Which economic difficulties did Philip II and his successors experience? Select all that apply. Profits from the Americas caused growing inflation in Spain. Prolonged drought caused major damage to Spanish agriculture. The costs of many wars rapidly emptied the Spanish treasury. The defeat of the armada severely weakened the Spanish economy.
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Which economic difficulties did Philip II and his successors experience? Select all that apply. Profits from the Americas caused growing inflation in Spain. Prolonged drought caused major damage to Spanish agriculture. The costs of many wars rapidly emptied the Spanish treasury. The defeat of the armada severely weakened the Spanish economy.
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Profits from the Americas caused growing inflation in Spain.
The costs of many wars rapidly emptied the Spanish treasury.
Explanation:
- Before Philip II took his throne, the Spanish empire's coffer was nearly empty, and the country was suffering from economic difficulties.
- The prices of goods were increasing during the reign of Philip II.
- Despite gaining bullion from America, Spain did not capitalize but send the money to the Netherlands for the Spanish troops fighting there.
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