elizabeth's money problems

What year did Elizabeth ascend to the throne?

• 1560

• 1558

• 1574

• 1540

How much debt did the crown inherit in 1558?

• 300,000 pounds

• 200,000 pounds

• 100,000 pounds

• 400,000 pounds

Where did the crown borrow money from?

• London in England

• The World Bank

• Antwerp in Belgium

• Paris in France

What was the interest rate for the loans from Antwerp?

• 10%

• 12%

• 14%

• 16%

What did Mary try to do to deal with the crown's financial problems?

• Raised taxes

• Sold off Crown's land

• Borrowed more money

• Cut household expenses

What was a major cause of inflation during Elizabeth's reign?

• War expenses

• Devaluation of the coin

• Increased taxation

• Excessive borrowing

Who suggested improving the quality of the money in 1560?

• Edward

• Mary

• Henry VIII

• Thomas Gresham

What was Elizabeth's main reason for not raising taxes?

• To keep the people happy

• To reduce national debt

• To avoid inflation

• To increase crown lands

By what year was the Crown out of debt?

• 1570

• 1574

• 1580

• 1565

What did Elizabeth do to reduce expenses?

• Cut household expenses

• Sold more land

• Increased taxes

• Borrowed more money