Chapter Chronology

Quiz for Global Trade: Silver

Select the best answer. Click Submit for each question to turn in your work.

Question

1. In the second half of the sixteenth century, what percentage of the world’s silver came from Potosí?

A.
B.
C.
D.
Correct: The answer is d. Potosí was far and away the most productive silver mine in the world, accounting for 60 percent of the world’s silver.
Incorrect: The answer is d. Potosí was far and away the most productive silver mine in the world, accounting for 60 percent of the world’s silver.

Question

2. Which of these countries accounted for the largest portion of the global demand for silver in the sixteenth century?

A.
B.
C.
D.
Correct: The answer is a. By the sixteenth century, all taxes in China were payable in silver, creating insatiable demand for the metal.
Incorrect: The answer is a. By the sixteenth century, all taxes in China were payable in silver, creating insatiable demand for the metal.

Question

3. Which of these was a consequence for Spain of the sixteenth-century influx of silver?

A.
B.
C.
D.
Correct: The answer is d. With so much easy money, there was little reason for the Spanish elite to support economic innovation.
Incorrect: The answer is d. With so much easy money, there was little reason for the Spanish elite to support economic innovation.

Question

4. Which of these was a consequence for China of the sixteenth-century influx of silver?

A.
B.
C.
D.
Correct: The answer is b. The need for finished goods to trade for silver led to the rise of a merchant class and a new specialization of regional production.
Incorrect: The answer is b. The need for finished goods to trade for silver led to the rise of a merchant class and a new specialization of regional production.

Question

5. The demand for labor in American mines contributed to the intensification of which of the following?

A.
B.
C.
D.
Correct: The answer is b. As the supply of Native American workers dwindled due to disease and overwork, mine owners turned to Africa for a new supply of slave labor.
Incorrect: The answer is b. As the supply of Native American workers dwindled due to disease and overwork, mine owners turned to Africa for a new supply of slave labor.