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Spain's economy didn't benefit from the gold and silver from the Americas because although it did make Spain wealthy for some time, it caused the value of their money to drop and as the demand of physical elements increased, so did prices (inflation) causing Spain's economy to fail
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How did silver affect the economy?
with its dick
What is the characteristic of a centrally planned economy?
One characteristic of a centrally planned economy is a steady money supply that is backed usually by gold or silver. This economy is moderated by the state in order to control availability.
What was british reason for creating the currency act?
Britain's rationale for enacting the Currency act of 1764 was to support British merchants, and therefore benefit the British economy. And also to increase the gold and silver reserves in Great Britain, which were running very low on this nonpaper money currency.
How does silver help the economy?
Silver has a value, weatheras the paper that we use for money is actually worthess - it's credit. Therefore, the more silver and gold that you have, the more substance you have that actually has some worth!
What is the economy like in peru?
Peru has a good economy. Peru exportspetroleum zinc, silver, lead, tin, copper, iron ore, gold ,cement, cotton, sugar, rice, and coffee
Which European country became wealthy from the gold and silver found in the Americas?
Spain became wealthy from the gold and silver found in the Americas, particularly in regions like Mexico, Peru, and Bolivia. The influx of precious metals from these sources significantly boosted Spain's economy during the 16th and 17th centuries.
Mining gold and silver was most important in colonies that belong to?
Mining gold and silver was most important in colonies that belonged to Spain, as they sought to establish a strong economy based on extracting and exporting precious metals from their territories in the Americas.
Which motivation led European sailors to explore the Americas?
Initially Europeans explored the Americas in search of gold, silver and precious stones.
How did silver affect the economy?
with its dick
What year did silver stopped being used to mint U.S. coins?
Americas silver is running low
What problems did Europeans face in using gold and silver coins?
Since the economy was based on gold and silver, the economy could not grow. It was stymied because of the lack of gold and silver...
Who introduced the silver coins in the economy?
kushans
What were. the causes of spanish expedition to the Americas?
The Spanish wanted riches such as gold and silver.
What were the causes of the Spanish expeditions to the Americas?
The Spanish wanted riches such as gold and silver.
What motivated 'Spain's' conquest?
for the gold of the Americas
How is the economy like in England?
England has gold and silver stuff.
What were the results of defeat of the spanish armada?
Some of the results of the Spanish Armada were the Spanish economy was in trouble. The gold and the silver that Spain received from the Americas caused high inflation.It signaled the decline of great European power. It also caused Spain's economy to crash. This defeat proved that England had the power to defend itself. And in the end, England remained an independent and Protestant nation.
