PAPM 1000 Chapter Notes - Chapter 2: Mercantilism, Bullionism, Precious Metal

• School: Carleton University
• Department: Public Affairs and Policy Management
• Course: PAPM 1000
• Professor: Marc Andre Gagnon

Document Summary

English or colonial ships or in ships of the country where the goods originated. Certain colonial products had to be sold only to. England, and others had to land in england before being shipped to foreign countries. Hamburg required the payment of fifty-four planks at toll stations along the way. For example, the price of of income is half an hour of work time when the wage rate is per hour. But, when the wage rate increases to per hour, the price of of income falls to one-third of an hour of work. Because income is cheaper in terms of work hours, workers will buy more income. They knew that prices would rise, or at least would not fall, if the quantity of money increased as trade expanded. Near eastern trade: published a discourse of trade from england unto the east indies.