Economic Impact of the Protestant Reformation
Which of the following describes a major economic impact of the Protestant Reformation?
A
It caused all wealth from trade to be funneled exclusively into the coffers of the Catholic Church.
B
It reversed the development of new industries, resulting in a decline in technological innovations such as the spinning jenny.
C
It led to the closure of trade routes and the adoption of isolationist economic policies by Protestant states.
D
It facilitated the rise of merchant classes and new banking systems, contributing to the growth of modern capitalism.
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