Answer: Gold
Explanation: "Spanish explorer Francisco Pizarro heard rumors of an empire to the south that had large amounts of gold."
News from England took months to hit the colonies, and vice versa. The king didn't even get the Declaration of Independence until a few months after it was already signed. Now apply that to every single piece of information that traversed between Britain and the Colonies.
People moving from rural areas to urban areas
Answer:
When the required reserve ratio is high, banks must loan out a smaller portion of their reserves resulting in fewer loans.
Explanation:
Required reserve ratio is the amount of liabilities in which a bank must hold on to. The banks are meant to loan very little or none of this reserve ratio.
These reserves are normally kept in vaults and useful for emergency in the case of demand of withdrawal of a huge amount from the bank. This explains why the banks must loan out a smaller portion of their reserves which results in fewer loans.
Answer:
John Locke is expressing the ideas of empiricism.
Explanation:
Empiricism is the philosphical theory that states that all knowledge comes from human experience: from the information that a person obtains through his senses. Empiricism is contrary to other theories like idealism, or rationalism.
Jonh Locke was a very important empiricist, and he is in fact considered the founder of the British empiricist school. In the paragraph, Locke is saying that he believes all knowledge comes from human experience, because when a person is born, his mind is a blank, and can only be filled through sensorial information.
