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02 Jun 2024, 09:38
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In the city of Glasgow, Scotland, trade doubled between 1750, when the first bank opened there, and 1765, when government regulations on banking were first implemented in Scotland. Each of the following, if true, could contribute to an explanation of the doubling described above EXCEPT:
(A) The technological revolution that started in the early eighteenth century in England resulted in increased trade between England and Scotland.
(B) Reductions in tariffs on foreign goods in 1752 led to an increase in imports to Glasgow.
(C) The establishment of banking in Glasgow encouraged the use of paper money, which made financial transactions more efficient.
(D) Improvements in Scottish roads between 1750 and 1758 facilitated trade between Glasgow and the rest of Scotland.
(E) The initial government regulation of Scottish banks stimulated Glasgow’s economy.
(A) The technological revolution that started in the early eighteenth century in England resulted in increased trade between England and Scotland.
(B) Reductions in tariffs on foreign goods in 1752 led to an increase in imports to Glasgow.
(C) The establishment of banking in Glasgow encouraged the use of paper money, which made financial transactions more efficient.
(D) Improvements in Scottish roads between 1750 and 1758 facilitated trade between Glasgow and the rest of Scotland.
(E) The initial government regulation of Scottish banks stimulated Glasgow’s economy.
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02 Jun 2024, 10:43
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Discussed here:
https://gmatclub.com/forum/in-the-city- ... 81453.html
Hope this helps.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Critical Reasoning (CR) Forum
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Thank you for understanding, and happy exploring!
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