Question 1

Which one of the following would be the most accurate description of our economy since the beginning of the new millennium?

Accepted Answer

A)  We have had virtually no economic problems.
B)  We are in the worst economic downturn since 1945.
C)  Aside from the federal budget deficit,we have no major economic problems.
D)  Our unemployment rates have been the lowest since World War II.

Question 2

Which statement is most accurate?

Accepted Answer

A)  Had the stock market not crashed in 1929,there would have been no business downturn in the early 1930s.
B)  Whether or not the stock market crashed,we definitely would have had a depression anyway.
C)  Had it not been for the speedy and powerful reactions of the administration of Herbert Hoover,the depression would have been much worse.
D)  It was not until the massive arms build-up leading up to our involvement in World War II that we finally began to emerge from the Great Depression.

Question 3

Which statement is true about the recession of 1990-91?

Accepted Answer

A)  It was the worst recession we have had since World War II.
B)  It was the mildest recession we have had since World War II.
C)  Our recovery from it was one of the strongest since World War II.
D)  Our recovery from it was one of the weakest since World War II.

Question 4

Which statement is true?

Accepted Answer

A)  We have had at least one recession in the 1940s,1950s,1960s,1970s,1980s,and 1990s.
B)  We have had at least two recessions in any one decade since World War II.
C)  We have had at least three recessions in all of the decades since World War II.
D)  None of the choices are true.

Question 5

The major cause of the recession in 2001 was a decline in _____________ spending.

Accepted Answer

The answer of The major cause of the recession in...

Question 6

There are _______ family farms today than at any previous time in our history.

Accepted Answer

A)  more
B)  fewer
C)  about the same number of

Question 7

Basically our high rate of population growth since the time of George Washington's presidency

Accepted Answer

A)  has been a drag on our rate of economic growth.
B)  pushed up our rate of unemployment.
C)  created a growing problem of not enough food to feed everyone.
D)  provided a market for our farmers and manufacturers.

Question 8

Each of the following took place in the latter half of the 1990s except

Accepted Answer

A)  a falling rate of inflation.
B)  a rising stock market.
C)  an economic boom.
D)  a rising unemployment rate.

Question 9

Of the 2.2 million working farms in the U.S. ,_________ of them produce more than $5,000 worth of agricultural products.

Accepted Answer

A)  one quarter
B)  half
C)  three quarters
D)  one third

Question 10

In the 1937-1938 economic downturn

Accepted Answer

A)  the number of unemployed rose dramatically by about 5 million.
B)  industrial production fell by 30 percent.
C)  presidential as well as Federal Reserve policy helped to cause the decline.
D)  All of the choices are true.

Question 11

Which statement is true?

Accepted Answer

A)  The United States has a larger national output than any other country in the world.
B)  We have had recessions about every three years since World War II.
C)  There were no recessions while Ronald Reagan was president.
D)  None of the statements are true.

Question 12

Economic conflict(s) leading to the Civil War __________________________.

Accepted Answer

A)  were over tariffs and the extension of slavery into the new territories
B)  was the growing free trade with England
C)  was Abraham Lincoln freeing the slaves
D)  None of the choices are true

Question 13

The federal government facilitated suburbanization by providing _______________ and __________________.

Accepted Answer

low-cost,e...

Question 14

The building of the ________ were the key development in opening the era of mass production and mass consumption.

Accepted Answer

transconti...

Question 15

Andrew Carnegie was largely responsible for the development of the _________ industry;while John D.Rockefeller was largely responsible for the development of the _________ industry.

Accepted Answer

The answer of Andrew Carnegie was largely responsible for the...

Question 16

The worst recession since World War II started in which year?

Accepted Answer

A)  1953
B)  1957
C)  1973
D)  1981
E)  2007

Question 17

The Age of the great industrial capitalist was

Accepted Answer

A)  the last quarter of the 18th century.
B)  the first quarter of the 19th century.
C)  the second quarter of the 19th century.
D)  the third quarter of the 19th century.
E)  the fourth quarter of the 19th century

Question 18

For most of the 19th century in the American West,there was

Accepted Answer

A)  an abundance of labor relative to land.
B)  abundance of land relative to labor.
C)  an abundance of both labor and land.
D)  a scarcity of both labor and lanD.

Question 19

The three main crops of the nation from the end of the Civil War to the turn of the century (1900)were (1)_____, (2)___________;and (3)________.

Accepted Answer

The answer of The three main crops of the nation...

Question 20

The last year (s)of very high inflation was (were)___________.

Accepted Answer

The answer of The last year (s)of very high inflation...

Exam 1: A Brief Economic History of the United States

Which one of the following would be the most accurate description of our economy since the beginning of the new millennium?

Correct AnswerverifiedShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

For most of the 19th century in the American West,there was

Correct AnswerverifiedShow Answer

Of the 2.2 million working farms in the U.S. ,_________ of them produce more than $5,000 worth of agricultural products.

Correct AnswerverifiedShow Answer

The last year (s)of very high inflation was (were)___________.

Correct AnswerverifiedShow Answer

The worst recession since World War II started in which year?

Correct AnswerverifiedShow Answer

Economic conflict(s) leading to the Civil War __________________________.

Correct AnswerverifiedShow Answer

There are _______ family farms today than at any previous time in our history.

Correct AnswerverifiedShow Answer

The Age of the great industrial capitalist was

Correct AnswerverifiedShow Answer

The federal government facilitated suburbanization by providing _______________ and __________________.

Correct Answerverifiedlow-cost,e...View AnswerShow Answer

In the 1937-1938 economic downturn

Correct AnswerverifiedShow Answer

The three main crops of the nation from the end of the Civil War to the turn of the century (1900)were (1)_____, (2)___________;and (3)________.

Correct AnswerverifiedShow Answer

The building of the ________ were the key development in opening the era of mass production and mass consumption.

Correct Answerverifiedtransconti...View AnswerShow Answer

The major cause of the recession in 2001 was a decline in _____________ spending.

Correct AnswerverifiedShow Answer

Andrew Carnegie was largely responsible for the development of the _________ industry;while John D.Rockefeller was largely responsible for the development of the _________ industry.

Correct AnswerverifiedShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

Each of the following took place in the latter half of the 1990s except

Correct AnswerverifiedShow Answer

Basically our high rate of population growth since the time of George Washington's presidency

Correct AnswerverifiedShow Answer

Which statement is most accurate?

Correct AnswerverifiedShow Answer

Which statement is true about the recession of 1990-91?

Correct AnswerverifiedShow Answer

Correct Answer
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The federal government facilitated suburbanization by providing _ and ____.

Correct Answer
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low-cost,e...
View Answer

Correct Answer
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The three main crops of the nation from the end of the Civil War to the turn of the century (1900)were (1)_, (2)_;and (3)__.

Correct Answer
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Correct Answer
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transconti...
View Answer

Correct Answer
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Andrew Carnegie was largely responsible for the development of the _ industry;while John D.Rockefeller was largely responsible for the development of the _ industry.

Correct Answer
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Correct Answer
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Correct Answer
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