Mercantilism was an economic theory and practice, dominant in modernized parts of Europe during the 16th to the 18th century,[1] that promoted governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. It was the economic counterpart of the previous medieval version of political power: divine right of kings and absolute monarchy.[2] Mercantilism includes a national economic policy aimed at accumulating monetary reserves through a positive balance of trade, especially of finished goods. Historically, such policies frequently led to war and also motivated colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. High tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy. Other policies have included
Answer:
The airlines base the policy on the assumption that the consumer demand is less elastic as time of departure approaches.
Explanation:
Price Elasticity of Demand refers to price sensitivity; i.e. the rate at price changes with demand.
As the purchase and flight departure gets smaller, the arrival rate of the passengers will definitely change.
When the demand of a commodity is less elastic, then it will cause a large changes in price of that commodity to effect a change in quantity consumed.
The public approved of Martin Van Buren because he was sticking policies similar to Andrew Jackson, the previous president. Jackson also helped campaign Buren. Buren supported lower tariffs while his opponent, the Whig Party, did not. He also advocated free trade and set up system of bonds for the national debt.
The main reason why United States was involved in Vietnam is that the United States believed in the so called Domino effect: that if one country becomes communist, others might become communist too. So they got involved to stop the spread of communism (option a)
