<u>Answer:</u>
- Sale of indulgences authorized by Pope Leo X to raise money to build St. Peter's Basilica in Rome (1515)
- Ninety-five Theses posted (1517)
- Hearing held at Worms, Germany (1521)
These events are most closely associated with B. Martin Luther and the Protestant Reformation
<u>Explanation</u>:
Pope Leo X was one of the peaceful popes who rose from a very decent background. He accelerated the work of the building of the famous artistic monument by raising money to build St. Peter's Basilica in Rome in 1515.
Martin Luther had questioned the Catholic's practice of absolving sins based on their indulgences. He considered this as a corrupt system. He penned down his thoughts in the famous 95 Thesis in the form of two beliefs. He said the Bible is the main religious authority and one should reach salvation based on their faith and not their deeds which sparked the Protestant Reformation.
For one of the reasons I know it's for economic opportunities.
Answer:
The reason why many historians regard the printing press as the most important invention of the past millennium is because it allowed for thoughts and ideas--and thus things like revolutions and large-scale changes--to spread far more quickly and effectively.
Explanation:
The economy operates according to the law of supply and demand for goods and services. According to this theory, the interaction between supply and demand for a good or service fits and the vector of adjustment is price.
If the price is high, there is more supply than demand. If the price is low, there is more demand than supply. If demand increases, price increases and supply increases. If demand falls, the price falls. That is, the price makes the interaction. There will be a moment where the quantity offered is exactly equal to the quantity demanded, at which point the price practiced is the equilibrium price.
So if an economy is in equilibrium at a time and then the price charged is higher than the equilibrium price, it means that demand has gotten higher than supply.
<u>However, none of the alternatives would explain why a price is charged above the equilibrium price.</u> <u>The answer is the reverse of what is written in alternative (A)</u>. The truth is this: As the quantity demanded rises, the price rises above the equilibrium price. <u>This is the answer</u>.
The alternative (B) is true, although it does not answer the question of the problem. If prices rise, demand falls. This is because the high price discourages consumption.
BTW, I'm an economist and I'm sure.