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What was the financial impact on Britain as a result of fighting the war and stationing troops in North America?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter20: The Global Economy

Section: Chapter Questions

Problem 15AA

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Question

What was the financial impact on Britain as a result of fighting the war and stationing troops in North America?

Expert Solution

Step 1

There is a big history of Britain's colonization across the world, Britain covered and ruled more than half of the world. That was the era of mercantilism, in which several countries of Europe chasing each other to capture the more landscape and accumulate more gold reserve. Mercantilism is the theory in economics that deals with the gold standard economy, it means more accumulation of gold means more powerful economy. Britain was very powerful in the colonial era and drained wealth from most of the part of the world. There was a very significant impact of stationing troops in North America. .

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