In addition to population growth, what caused inflation in European economies during the fifteenth century?(1 point) Responses the influx of silver from America the influx of silver from America the influx of gold from America the influx of gold from America the increasing price of spices the increasing price of spices the influx of cochineal
The correct answer is: the influx of silver from America.
In addition to population growth, the influx of silver from America caused inflation in European economies during the fifteenth century.
The correct answer is: the influx of silver from America and the increasing price of spices.
To arrive at this answer, let's examine the provided options:
1. The influx of silver from America: The colonization of the Americas in the fifteenth century led to a significant increase in the inflow of silver to Europe. This increased the money supply and created inflationary pressure.
2. The influx of gold from America: While the colonization of the Americas did bring about an increase in gold production, it was not as significant as the influx of silver. Gold did not play as significant a role in causing inflation during the fifteenth century.
3. The increasing price of spices: Throughout the fifteenth century, the demand for spices from Europe steadily grew. This increased demand, combined with limited supply, caused the price of spices to rise and indirectly contributed to inflation.
4. The influx of cochineal: Cochineal is a red dye extracted from insects, primarily used for coloring textiles. While its trade did become significant in later centuries, it did not play a major role in causing inflation during the fifteenth century.
Based on this analysis, the correct answer is the "influx of silver from America" and the "increasing price of spices."