Explanation:

- Option 1: Creoles were people of European descent born in the colonies. While influential, they were below the Peninsulares in terms of power and social status.

- Option 2: Peninsulares is correct. Peninsulares were Spaniards born in Spain who resided in the New World. They held the highest administrative positions and social authority in the colonies.

- Option 3: Mestizos had mixed European and Indigenous ancestry. They were lower in the social hierarchy compared to both Creoles and Peninsulares.

- Option 4: Mulattos were people of mixed African and European descent and typically had limited power and rights compared to the other groups.