Answer:
As you stated, Spain's obsession with gold led to a lack of investment in production, which allowed Britain and other European nations to surpass them. The Price Revolution caused inflation, which meant that in England large landholders were losing profits from their lands to inflation.
Explanation:
The inference is that the effect is that Spain's obsession with gold led to a lack of investment in production, which allowed Britain and other European nations to surpass them.
An inference is the conclusion that can be deduced based on the information that are given in a literary work.
In this case, the inference is that the effect is that Spain's obsession with gold led to a lack of investment in production, which allowed Britain and other European nations to surpass them.
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