Question 1

The U.S.population is over _________ million.

Accepted Answer

The answer of The U.S.population is over _________ million....

Question 2

Which statement is true?

Accepted Answer

A)  There was a great deal of stagflation in the 1960s.
B)  We had full employment for most of the 1980s.
C)  We have had twelve recessions since the beginning of 1945.
D)  None of the choices are true.

Question 3

Which one of the following was a basic economic conflict between the North and the South in the years preceding the Civil War?

Accepted Answer

A)  The North opposed the high protective tariffs the South supported to protect its manufactured goods.
B)  The South opposed the high protective tariffs the North supported to protect its manufactured goods.
C)  The North demanded the abolition of slavery.
D)  The North opposed the building of a transcontinental railroaD.

Question 4

In the late 1920s,you could buy $5,000 worth of stock by putting down as little as

Accepted Answer

A)  $100
B)  $200
C)  $500
D)  $1,000
E)  $2,500

Question 5

The Great Depression began in

Accepted Answer

A)  the second half of 1929.
B)  the middle of 1930.
C)  early 1932.
D)  march 1933.
E)  may 1937.

Question 6

Which is the most accurate statement about the recessions we have had since World War II?

Accepted Answer

A)  They have all been very mild.
B)  They have all been very severe.
C)  Three have been very severe.
D)  None have been severe.

Question 7

For all intents and purposes,the Great Depression ended in

Accepted Answer

A)  1933.
B)  1937.
C)  1941.
D)  1945.
E)  1950.

Question 8

Which of the following statements is true?

Accepted Answer

A)  There was a great deal of stagflation in the 1930s.
B)  The inflation rate fell during the Eisenhower Administration,but rose during the Reagan years.
C)  Output in the United States fell by about one-third between 1929 and 1933.
D)  The Medicare and Medicaid programs were inaugurated during the New Deal.

Question 9

As a manufacturer becomes a mass producer,generally productivity ____ and wage rates ____.

Accepted Answer

A)  falls,fall
B)  rises,rise
C)  rises,fall
D)  falls,rise

Question 10

The record for the longest U.S.economic expansion started in March ______ and ended in March _____.

Accepted Answer

The answer of The record for the longest U.S.economic expansion...

Question 11

Farms with sales of more than $250,000 account for __________ percent of U.S.agricultural sales.

Accepted Answer

The answer of Farms with sales of more than $250,000...

Question 12

Between 1836 and 1851 travel time between New York and Chicago was cut from

Accepted Answer

A)  a month to two days.
B)  a month to a week.
C)  two weeks to one week.
D)  two weeks to two days.

Question 13

Which statement is false?

Accepted Answer

A)  During the 19th century the main cash crops grown in the South were cotton,rice,sugar,and tobacco.
B)  The only real economic conflict between the North and the South before the Civil War was over slavery.
C)  It took most parts of the South about a century to recover economically from the effects of the Civil War.
D)  Southern agriculture developed very differently from agriculture in other regions of the nation.

Question 14

In the decades before the Civil War,the South _________________________.

Accepted Answer

A)  opposed the extension of slavery into the territories
B)  supported the extension of slavery into the territories
C)  cooperated with the North to establish both free and slavery territories
D)  None of the choices are true

Question 15

Which of the following has been one of the most productive sectors of the U.S.economy through the 19th,20th and 21st centuries?

Accepted Answer

A)  Textiles
B)  Steamships
C)  Steel
D)  Agriculture

Question 16

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 17

The most accurate appraisal of the American economy early in the 21st century would be that we

Accepted Answer

A)  had the largest economy in the world with no major economic problems.
B)  had the largest economy in the world,but were faced with some major economic problems.
C)  did not have the largest economy in the world,and had no major economic problems.
D)  did not have the largest economy in the world and did face some major economic problems.

Question 18

Which is the most accurate statement?

Accepted Answer

A)  The problem of hunger has been virtually eliminated in the United States.
B)  Farmers are less productive today than they were 40 years ago.
C)  The 1990s will go down in history as one of the most prosperous decades since the founding of the republiC.
D)  Oil prices declined in 1973.

Question 19

All of the following reflects our current economic situation except

Accepted Answer

A)  the hourly wage adjusted for inflation is lower than it was in 1973.
B)  our trade deficit,while large,has fallen in the last few years.
C)  our savings rate has fallen to zero.
D)  our federal budget deficit is at a record high.

Question 20

Statement I.President Ronald Reagan said that if we cut tax rates,people would have more incentive to work,output would rise,and inflation would subside.
Statement II.President Reagan said big government is not the answer to our problem,it is the problem.

Accepted Answer

A)  Statement I is true and statement II is false.
B)  Statement II is true and statement I is false.
C)  Both statements are true.
D)  Both statements are false.

Exam 1: A Brief Economic History of the United States

All of the following reflects our current economic situation except

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The record for the longest U.S.economic expansion started in March ______ and ended in March _____.

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The U.S.population is over _________ million.

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Which statement is false?

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In the decades before the Civil War,the South _________________________.

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Between 1836 and 1851 travel time between New York and Chicago was cut from

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Which of the following statements is true?

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For all intents and purposes,the Great Depression ended in

Correct AnswerverifiedShow Answer

Which of the following has been one of the most productive sectors of the U.S.economy through the 19th,20th and 21st centuries?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Great Depression began in

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Statement I.President Ronald Reagan said that if we cut tax rates,people would have more incentive to work,output would rise,and inflation would subside. Statement II.President Reagan said big government is not the answer to our problem,it is the problem.

Correct AnswerverifiedShow Answer

The most accurate appraisal of the American economy early in the 21st century would be that we

Correct AnswerverifiedShow Answer

Which is the most accurate statement?

Correct AnswerverifiedShow Answer

Farms with sales of more than $250,000 account for __________ percent of U.S.agricultural sales.

Correct AnswerverifiedShow Answer

Which is the most accurate statement about the recessions we have had since World War II?

Correct AnswerverifiedShow Answer

As a manufacturer becomes a mass producer,generally productivity ____ and wage rates ____.

Correct AnswerverifiedShow Answer

In the late 1920s,you could buy $5,000 worth of stock by putting down as little as

Correct AnswerverifiedShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

Which one of the following was a basic economic conflict between the North and the South in the years preceding the Civil War?

Correct AnswerverifiedShow Answer

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The record for the longest U.S.economic expansion started in March __ and ended in March _.

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As a manufacturer becomes a mass producer,generally productivity and wage rates .

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