Which best describes how European powers of the 16th century used the economic theory of mercantilism to grow their wealth?
European nations aimed to increase taxes on merchants, believing this would increase revenue and the nation's wealth.
European nations minimized the sale of exports and banned tariffs that restricted their colonies from trading with foreign nations.
European nations maximized the sale of exports and established tariffs to restrict colonies from trading with foreign nations.
European nations aimed to decrease taxes for merchants, believing this would increase trade and spur the economy.
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