1. Compared with other countries in the late 19th century, the United States had relatively ___ tariff rates. A. Similar B. Low C. High 2. The 13 Colonies of North America were the colonies most valued by the European imperial powers in late 1600s." A. True B. False 3. The Bank of England raising its interest rates contributed to, among other factors, the Jacksonian inflation." A. True B. False 4. Banks in an unregulated system usually maintain a reserve ratio above zero." A. True B. False 5. A colonial economy uses slave labor. If an increase in piracy drove up transportation costs, the fraction of the labor force that is free labor would A. remain unchanged B. rise C. fall