American Economic Institutions
Exam Review
Course Introduction
This course explores the structure, function, and evolution of key economic institutions in the United States, including financial markets, labor organizations, regulatory agencies, and major corporations. Students will examine how these institutions impact economic decision-making, shape public policy, influence income distribution, and affect both domestic and international economic relations. Through historical analysis and contemporary case studies, the course provides a deeper understanding of the interplay between institutional forces, market outcomes, and government intervention in the American economy.
Recommended Textbook
History of the American Economy With Infotrac 11th Edition by Gary M. Walton
Available Study Resources on Quizplus
29 Chapters
782 Verified Questions
782 Flashcards
Source URL: https://quizplus.com/study-set/2236
Page 2
Chapter 1: Economic History
Available Study Resources on Quizplus for this Chatper 10 Verified Questions 10 Flashcards
Source URL: https://quizplus.com/quiz/44457
Sample Questions
Q1) Which is true about present day Americans who are at the official poverty level?
A)Their incomes are about the same as those at the poverty level in 1950.
B)Their incomes are higher than all but the richest Americans in 1900.
C)Their incomes are about the same as those at the poverty level in 1900.
D)Their incomes are about the same as those in the middle class in 1950.
Answer: B
Q2) Nobel laureate Robert Fogel contends that which of the following are good proxies for current levels of nutrition?
A)Changes in height during the growing years
B)Total height
C)Total weight
D)Changes in weight during the growing years
Answer: A
Q3) Which is true about present day Americans who are at the official poverty level?
A)Their incomes are about the same as the average world income.
B)Their incomes are about half of the average world income.
C)Their incomes are above the world average per capita income.
D)Their incomes are about the average income of people in nations like China,India and Pakistan.
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Founding the Colonies
Available Study Resources on Quizplus for this Chatper
43 Verified Questions
43 Flashcards
Source URL: https://quizplus.com/quiz/44458
Sample Questions
Q1) Of the English-owned joint stock companies that operated in North America,which was the only one to survive longer than 20 years?
A)The London Company
B)The New Plymouth Company
C)The Hudson Bay Company
D)The Massachusetts Bay Company
Answer: C
Q2) Bartholomew Dias was one of the leading explorers for which nation?
A)England
B)France.
C)Holland.
D)Portugal.
E)Spain.
Answer: D
Q3) Spain's eventual decline in influence can be traced to
A)the lack of a solid foundation for its settlement efforts.
B)a costly war to bring the Low Countries under subjection.
C)the decline in gold and silver imports from America.
D)All of the above are correct.
Answer: D
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Colonial Economic Activities
Available Study Resources on Quizplus for this Chatper
23 Verified Questions
23 Flashcards
Source URL: https://quizplus.com/quiz/44459
Sample Questions
Q1) The wealthiest occupational groups in North America included
A)merchants in New England.
B)merchants in the Middle colonies.
C)large land-holding planters in the South.
D)All of the above.
Answer: D
Q2) What was not true about the economy of the Middle Colonies?
A)It was a net importer of food.
B)The farms were generally smaller than those in the South.
C)The crops did not have large economies of scale.
D)Its main agricultural products were grains.
Answer: A
Q3) The only mineral that was available in any significant quantity in colonial America was:
A)Gold.
B)Silver.
C)Iron.
D)Coal.
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: The Economic Relations of the Colonies
Available Study Resources on Quizplus for this Chatper
28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/44460
Sample Questions
Q1) Colonists owned the vast majority of the tonnage shipped between
A)New England and the West Indies.
B)England and the West Indies.
C)The Middle colonies and England.
D)The South and the West Indies.
Q2) Mercantilists wanted a favorable balance of trade,by which they meant
A)exports = imports.
B)exports > imports.
C)exports < imports.
D)To import nothing from the colonies.
Q3) During the colonial period,commodities that could only be exported legally to Britain were known as _______.
A)Foxwell goods.
B)tariff goods.
C)scot-free goods.
D)enumerated goods.
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Economic Progress and Wealth
Available Study Resources on Quizplus for this Chatper
24 Verified Questions
24 Flashcards
Source URL: https://quizplus.com/quiz/44461
Sample Questions
Q1) Low-cost flyboats offered an attractive alternative to heavier,more costly ships;however,their use was limited in many areas due to
A)privateering and piracy.
B)colonial laws that specified minimum crew sizes for many voyages.
C)the Navigation Acts.
D)the inability of New England shipbuilders to manufacture flyboats.
Q2) What was the most immediate impact of introducing the horse to the plains Indians?
A)A decrease in the amount of agricultural work the Indians did.
B)A large increase in the size of hunting groups.
C)More intensive and more efficient use of animal carcasses.
D)More time was spent in fixed locations.
Q3) The largest productivity gains in colonial shipping were from
A)decreased layover times in ports.
B)lower costs associated with the increase in size of the vessels.
C)the increased speed of the ships.
D)the use of larger ships
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Three Crises and Revolt
Available Study Resources on Quizplus for this Chatper
17 Verified Questions
17 Flashcards
Source URL: https://quizplus.com/quiz/44462
Sample Questions
Q1) One of the most important reasons for England's reasserting its authority over the colonial United States prior to the Revolution is
A)England's commitment to mercantilism.
B)the end of the Seven Years War.
C)the end of the English Revolution.
D)the fall of Spain as a world power.
Q2) Which of the following provisions was not a component of the Intolerable Acts?
A)Permitted British officials charged with crimes to be tried in Britain.
B)Raised taxes in Boston to pay for the tea destroyed during the Boston Tea Party.
C)Provided for the quartering of troops in the city of Boston.
D)Revised the charter of Massachusetts to make some rights dependent on the decisions of a governor who was appointed by England.
Q3) What was not a grievance of the Continental Congress that met in October 1774?
A)Taxes had been imposed upon the colonies by the British Parliament.
B)The colonies were not permitted to trade with nations other than England.
C)England had confiscated western colonial land.
D)Persons could be transported out of the colonies for trials.
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: Hard Realities for a New Nation
Available Study Resources on Quizplus for this Chatper
23 Verified Questions
23 Flashcards
Source URL: https://quizplus.com/quiz/44463
Sample Questions
Q1) Post-Revolutionary trade data show that after 1790
A)U.S.trade with non-British areas of the Caribbean increased.
B)the export of food to the West Indies increased.
C)trade in the southern U.S.did not keep pace with population growth.
D)the U.S.exported tobacco to France and the Netherlands.
E)All of the above.
Q2) The economic system envisioned by the Constitution _________.
A)embodied Adam Smith's emphasis on protecting private property.
B)used the Civil Code of France,rather than the English Common Law,as its foundation.
C)enshrined the traditional 18 century model of mercantilism which allowed the government to have large control over private ownership of goods and services.
D)fostered Jefferson's idea of a democracy based primarily on agriculture.
Q3) The Constitution
A)empowers each state to negotiate its own treaties with foreign governments.
B)empowers Congress to pay off all public debts,including those incurred by the states.
C)allows for states to set tariffs on goods imported from another state.
D)allows only Congress to set tariffs on goods moving from one state to another.
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Land and the Early Western Movements
Available Study Resources on Quizplus for this Chatper
26 Verified Questions
26 Flashcards
Source URL: https://quizplus.com/quiz/44464
Sample Questions
Q1) The Land Ordinance of 1787 provided that a state would be admitted to the Union when it's population reached
A)5,000.
B)30,000.
C)60,000.
D)100,000.
Q2) What industry was the main economic impetus behind antebellum migration to the West Coast?
A)Fishing.
B)Cattle.
C)Fruit.
D)Mining.
Q3) Under the system of "township planning"
A)no one could own land that had not been previously surveyed.
B)settlers chose their own plots of land,under the supervision of a county surveyor.
C)legal descriptions of property made reference to permanent natural objects.
D)gaps between unsettled and settled land were encouraged.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Transportation and Market Growth
Available Study Resources on Quizplus for this Chatper
26 Verified Questions
26 Flashcards
Source URL: https://quizplus.com/quiz/44465
Sample Questions
Q1) Which of the following antebellum transportation innovations was financed primarily by government funds?
A)the Erie Canal
B)the New Orleans steamboat
C)the Lancaster Turnpike
D)the Ann McKim clipper ship
Q2) Despite dramatic increases in trackage during the antebellum period,the U.S.was slow to develop an integrated railroad system.This was primarily due to
A)the opposition of municipal governments to railroads.
B)the opposition of the federal government to railroads.
C)the failure to adopt a standard gauge for track.
D)heavy taxes on railroad companies.
Q3) DeWitt Clinton is most recognized for
A)inventing the wheat combine.
B)being one of the primary advocates of the abolition movement.
C)developing the technology to power railroad engines.
D)overseeing the building of the Erie Canal.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Market Expansion Industry in First Transition
Available Study Resources on Quizplus for this Chatper
24 Verified Questions
24 Flashcards
Source URL: https://quizplus.com/quiz/44466
Sample Questions
Q1) Francis Lowell's Boston Manufacturing Company
A)specialized in the production of one type of cloth.
B)combined all four stages of cloth production in one plant.
C)sold its product throughout the U.S.
D)used power looms for weaving.
E)All of the above.
Q2) Tariffs comprised approximately what percentage of the federal government revenues between 1790 and 1860?
A)97%.
B)55%.
C)25%.
D)1%.
Q3) According to Robert Zevin's 1971 study of textiles,the U.S.cotton textile industry had ____ percent of the number of Britain's textile labor force,but produced ____ percent as much cotton.
A)80;80
B)50;80
C)50;40
D)25;40
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 11: Labor During the Early Industrial Period
Available Study Resources on Quizplus for this Chatper
25 Verified Questions
25 Flashcards
Source URL: https://quizplus.com/quiz/44467
Sample Questions
Q1) Which statement best describes the growth rate of adult male real wages between 1820-1860 in the U.S.?
A)The growth rate was about the same as it was in pre-Revolutionary U.S.
B)The growth rate was negative.
C)The growth rate was more than 5 percent per year.
D)The growth rate was 1.2-1.6 percent per year.
Q2) In the 1850s,the growth rate of real wages in U.S.manufacturing slowed to nearly zero because
A)the demand for manufacturing labor and the supply of manufacturing labor increased by approximately the same amount during this period.
B)the demand for manufacturing labor and the supply of manufacturing labor decreased by approximately the same amount during this period.
C)the demand for manufacturing labor increased more rapidly than the supply of manufacturing labor during this period.
D)the demand for manufacturing labor increased while the supply of manufacturing labor decreased during this period.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Money and Banking in the Developing Economy
Available Study Resources on Quizplus for this Chatper
31 Verified Questions
31 Flashcards
Source URL: https://quizplus.com/quiz/44468
Sample Questions
Q1) Under the bimetallic standard of the 19th century,
A)gold was initially valued at about 15 times that of silver.
B)price fluctuations of gold and silver eased the adoption of the system.
C)price fluctuations caused hoarding of undervalued coins.
D)Both a and b are correct.
E)Both a and c are correct.
Q2) Under the bimetallic standard of the 19 century
A)the amount of money in circulation increased.
B)the American dollar served poorly as a unit of account.
C)only one metal tended to circulate as money at any given time.
D)the government earned profits by selling gold.
Q3) The Second Bank of the United States rose to prominence under the leadership of
A)Alexander Hamilton.
B)Andrew Jackson.
C)Henry Clay.
D)Nicholas Biddle.
Q4) Which was not a result of the California gold rush?
A)A substantial increase in the money supply.
B)A large increase in GNP.
C)A significant decrease in the prices of farm goods.
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: The Entrenchment of Slavery and Regional Conflict
Available Study Resources on Quizplus for this Chatper
34 Verified Questions
34 Flashcards
Source URL: https://quizplus.com/quiz/44469
Sample Questions
Q1) Approximately how many slaves were brought to the colonial U.S.from Africa during the operation of the transatlantic slave trade?
A)50,000
B)700,000
C)5 million
D)10 million
Q2) Which statement is most correct: According to new research by Olmstead and Rhodes in 2008,productivity gains in cotton
A)included a nearly 10 percent per annum increase in labor productivity.
B)were accomplished by mechanical innovations.
C)were accomplished by biological innovations.
D)were entirely due to the depletion of Eastern soils,which drove production to the Southwest.
Q3) Between 1850 and 1860 the prices of slaves ____ and the price of cotton ___.
A)rose,rose.
B)rose,fell.
C)fell,rose.
D)fell,fell.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: War, Recovery and Regional Divergence
Available Study Resources on Quizplus for this Chatper
30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/44470
Sample Questions
Q1) In the decade immediately following emancipation,former slaves
A)were willing to work under the gang system in return for wages and benefits.
B)decreased their labor supply.
C)obtained ownership of roughly 40 percent of southern farms.
D)moved to northern states in large numbers.
Q2) The South's transportation problem was primarily due to
A)a shortage of mules and horses.
B)a limited rail network.
C)a shortage of inland shipping.
D)the lack of a merchant marine.
Q3) During the Civil War years,
A)the slight stimulus to manufacturing was startling.
B)iron production for both small arms and railroads increased rapidly.
C)production of boots and shoes in Massachusetts nearly doubled.
D)Both b and c are correct.
Q4) At the start of the Civil War,the South adopted a trade policy that did not
A)discourage exports to England.
B)ban sales of cotton to the North.
C)eventually move England from neutrality in the Civil War.
D)weaken the southern war effort.
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Agricultures Western Advance
Available Study Resources on Quizplus for this Chatper
30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/44471
Sample Questions
Q1) Between 1870 and 1910,corn and wheat
A)output showed little,if any,growth in land productivity.
B)output increased dramatically,due to labor productivity increases.
C)yields per acre hardly changed.
D)output increased dramatically due to the effects of increased amounts of capital per worker.
E)All of the above are correct.
Q2) Increases in the price of farm labor during the post-bellum period led to
A)an increase in farmers' demand for capital equipment.
B)a decrease in farmers' demand for land.
C)a decrease in the demand for food.
D)an increase in the demand for fertilizer.
Q3) According to the text,what best explains the price for federal land that would have maximized real GNP?
A)Some price above zero that maximizes government revenues to be redistributed fairly to the people.
B)Some price above zero that minimizes negative environmental externalities.
C)A price equal to zero that eliminates the welfare loss associated with land not used for production.
D)A subsidized price that distributes land based on egalitarian principles.
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Railroads and Economic Change
Available Study Resources on Quizplus for this Chatper
30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/44472
Sample Questions
Q1) Before the nation's first transcontinental railroad was completed,travelers to the West Coast used which forms of transportation?
A)clipper ship,wagon,mule
B)dugout canoe,dirigible,horse
C)clipper ship,dugout canoe,mule
D)All of the above are correct.
E) Only a and c are correct.
Q2) The Grangers were:
A)an organization designed to support the interests of railroads.
B)an agrarian society.
C)an abolitionist organization.
D)a society that petitioned for Prohibition.
Q3) Gains in railroad productivity were caused by
A)more powerful locomotives.
B)automatic couplers.
C)air brakes.
D)All of the above are correct.
E) Only a and b are correct.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 17: Industrial Expansion and Concentration
Available Study Resources on Quizplus for this Chatper
31 Verified Questions
31 Flashcards
Source URL: https://quizplus.com/quiz/44473
Sample Questions
Q1) The McCallum management principles advocate the use of A)time-motion study to determine the most productive way to perform job-tasks.
B)employee stock-purchase programs.
C)internal accounting systems and performance evaluations.
D)leveraged buy-outs to increase the firm's control of an industry.
Q2) "Taylorism" has been described as
A)dehumanizing.
B)the exploitation of labor.
C)using science to increase production.
D)All of the above are correct.
E)Only b and c are correct.
Q3) A monopsony is a market in which
A)one firm is the sole producer of a good or service.
B)one firm is the sole buyer of a good or service.
C)firms encourage competition by starting "price wars" among competitors.
D)firms collude in setting prices and levels of output.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 18: The Emergence of Americas Labor Consciousness
Available Study Resources on Quizplus for this Chatper
29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/44474
Sample Questions
Q1) Between 1860 and 1890,both daily wages and annual earnings
A)fell slightly.
B)stayed roughly the same.
C)increased by 10%.
D)increased by 50%.
Q2) In 1860 the ratio of farmers to manufacturing workers was roughly ____ ;by 1910 that ratio was ____ .
A)1:1;1:5
B)1:3;1:1
C)3:1;1:1
D)10:1;1:1
Q3) Which of the following is most accurate about the period between the Civil War and World War I?
A)An increasing share of the U.S.population lived in rural areas.
B)Unions pursued strategies of peaceful negotiation with employers.
C)The average number of hours of work increased significantly during the period.
D)The difference between male and female wages decreased.
To view all questions and flashcards with answers, click on the resource link above.
Page 20
Chapter 19: Money, Prices, and Finance in the Postbellum
Available Study Resources on Quizplus for this Chatper
23 Verified Questions
23 Flashcards
Source URL: https://quizplus.com/quiz/44475
Sample Questions
Q1) It has been argued that banks tended not to take full advantage of issuing notes,thereby passing up potential profits because A)the profit amounts were small.
B)they were not the types of profits conservative bankers wanted to pursue.
C)regulations and opportunity costs involved with the issuance itself limited the profits.
D)All of the above are correct.
E) Only a and c are correct.
Q2) The years between 1896 and World War I were characterized by A)rapidly rising prices in the U.S.
B)wild fluctuations in international exchange rates.
C)the "heyday" of the gold standard in the U.S.and most industrialized countries. D)barriers that prevented the flow of goods and capital across international borders.
E) All of the above.
To view all questions and flashcards with answers, click on the resource link above.
21
Chapter 20: Commerce at Home and Abroad
Available Study Resources on Quizplus for this Chatper
15 Verified Questions
15 Flashcards
Source URL: https://quizplus.com/quiz/44476
Sample Questions
Q1) Which of the following is least accurate in characterizing changes in retailing in the second half of the 19 century?
A)Large growth in the number of department stores.
B)Large growth in the number of chain stores.
C)Large growth in the number of "general stores."
D)Large growth in the number of mail-order houses.
Q2) What is most accurate about the United States' trading patterns between 1850 and 1900?
A)The US exported more finished manufacturers in 1850 than it did in 1900.
B)Raw materials accounted for a greater share of US imports in 1850 than they did in 1900.
C)Manufactured and raw foodstuffs accounted for about 75% of exports in both 1850 and 1900.
D)In 1850,the US's largest export was raw materials and its larges import was finished manufacturers.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 21: Mobilizing for War
Available Study Resources on Quizplus for this Chatper
16 Verified Questions
16 Flashcards
Source URL: https://quizplus.com/quiz/44477
Sample Questions
Q1) What most accurately describes what happened to earnings in the US between 1914 and 1920?
A)Both nominal and real earnings increased substantially.
B)Nominal and real earnings dropped significantly as the World War I triggered a recession.
C)Nominal earnings increased slightly,but real wages decreased because of the large inflation.
D)A period of deflation led real earnings to increase even though nominal earnings had decreased slightly.
Q2) The best description of the economic ideology during World War I was __________.
A)The belief that the economy could be strengthened by centralized coordination.
B)The economy would work best with a strong commitment to the free market.
C)The US should eliminate many federal agencies during World War I to make the government more efficient.
Q3) Between 1914 and 1920,the US price level ______________.
A)fell dramatically.
B)nearly doubled.
C)rose and fell in accordance with intensity of the war.
D)remained relatively stable.
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: The Roaring Twenties
Available Study Resources on Quizplus for this Chatper
29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/44478
Sample Questions
Q1) Investors should be willing to pay more for a stock when (controlling for all other things):
A)Future interest rates are expected to increase.
B)Future interest rates are expected to decrease.
C)Future dividends are expected to decrease.
Q2) What method was not used by the US between 1880 and 1920 to limit the number of immigrants?
A)Outlawing the practice of prepaying the cost of an immigrant's voyage in exchange for future labor services.
B)Implementing a financial test for potential immigrants.
C)Utilizing a literacy test for potential immigrants.
D)Allowing only immigrants who had family members in the US to come in.
Q3) Union membership declined during the 1920s due to
A)the growth of the service sector.
B)increased use of high-tech,labor-saving devices in the manufacturing sector.
C)firms' use of "yellow-dog" contracts.
D)poor union leadership.
E)All of the above.
To view all questions and flashcards with answers, click on the resource link above. Page 24
Chapter 23: The Great Depression
Available Study Resources on Quizplus for this Chatper
30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/44479
Sample Questions
Q1) During the 1930s,
A)ordinary citizens were not allowed to hold gold.
B)the US government fixed the price at which the Treasury would by and sell gold.
C)production of gold soared.
D)All of the above are correct.
E) Only a and b are correct.
Q2) What best describes US federal fiscal experience in the late 1920s and early 1930s?
A)Revenues collected increased rapidly through the period.
B)A balanced budget was maintained for most of the Depression.
C)Tax rates were consistently lowered to spur economic growth.
D)Expenditures grew by over 300% from 1927 to 1940.
Q3) During the 1930s,banks found it hard to solve the asymmetric information problem between borrowers and lenders,because ____.
A)Many borrowers lacked adequate collateral.
B)Changing federal bank regulations created uncertainty.
C)The fall in the stock of money reduced aggregate demand.
D)Interest rates had fallen to "liquidity trap" levels.
To view all questions and flashcards with answers, click on the resource link above. Page 25
Chapter 24: The New Deal
Available Study Resources on Quizplus for this Chatper
14 Verified Questions
14 Flashcards
Source URL: https://quizplus.com/quiz/44480
Sample Questions
Q1) What was not a significant cause of the Great Depression?
A)Bank failures.
B)Stock market crash.
C)Government fiscal and monetary policy.
D)Large increase in imports that took jobs away from American workers.
Q2) Concerning the effect of New Deal farm measures,Walton and Rockoff conclude that the New Deal _____.
A)simply failed to help farmers because the farmer's terms of trade did not improve.
B)helped the farmer to a limited extent primarily through the stimulation of aggregate demand.
C)helped the farmer to a substantial extent by limiting farm output.
D)helped the farmer to a substantial extent by increasing farm output.
Q3) What was not one of the government's strategies to pull the nation out of the Great Depression?
A)Large subsidies for manufacturing companies.
B)Sizable increases in employment of emergency workers.
C)Development of the Federal Deposit Insurance Corporation (FDIC).
D)Institute price controls for farmers.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 25: World War II
Available Study Resources on Quizplus for this Chatper
25 Verified Questions
25 Flashcards
Source URL: https://quizplus.com/quiz/44481
Sample Questions
Q1) The drop in unemployment from over 11 percent in 1939 to roughly 1 percent in 1944
A)has been attributed by Keynesians as a validation of larger deficits as a solution to unemployment.
B)has been attributed by Monetarists as a validation that a large increase in the money supply would cure the depression.
C)has been acknowledged as a success in Keynesian policies,with the caveat that inflation was only averted through price controls.
D)All of the above are correct.
Q2) The postwar years
A)ushered in what has been described as an unthinking materialist culture.
B)ushered in what has been described as a consumer-oriented society that represented the fulfillment of the American dream.
C)featured an unusual deviation from the long-term trend toward smaller families.
D)All of the above are correct.
E) Only a and b are correct.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 26: The Changing Role of the Federal Government
Available Study Resources on Quizplus for this Chatper
32 Verified Questions
32 Flashcards
Source URL: https://quizplus.com/quiz/44482
Sample Questions
Q1) Which is true of total federal spending relative to GDP?
A)It is the most commonly used measure of the size of government.
B)There really is no upper limit to the ratio of total government spending to GDP.
C)It has steadily increased over the last 50 years.
D)All of the above are correct.
E) Only a and c are correct.
Q2) According to _________,liberal programs survive attempts by conservative administrations to eliminate them because of the "tyranny of the status quo."
A)Arthur Schlesinger,Jr.
B)Wagner's Law
C)Milton and Rose Friedman
D)Robert Higgs
Q3) By 1994,the percentage of the U.S.labor force employed in agriculture was
A)less than 3 percent.
B)between 5 and 7 percent.
C)about 10 percent.
D)15 percent.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 27: Government the Business Cycle After World
War II
Available Study Resources on Quizplus for this Chatper
33 Verified Questions
33 Flashcards
Source URL: https://quizplus.com/quiz/44483
Sample Questions
Q1) Fiscal and monetary policies adopted by the Carter administration in the first half of his term resulted in
A)stable prices and low unemployment.
B)deflation.
C)a rapid rise in the inflation rate.
D)a balanced federal budget.
Q2) Under the leadership of Federal Reserve Chairman _______________,the double-digit inflation of the 1970s and early 1980s was finally reduced using policies advocated by monetarists.
A)Milton Friedman
B)Alan Greenspan
C)Paul Volcker
D)Alfred Kahn
Q3) In his 1967 address to the American Economic Association,Milton Friedman explained that increases in the money supply will temporarily reduce unemployment because A)wages do not respond to monetary policy.
B)unions support policies that increase inflation.
C)inflation benefits lenders.
D)prices rise faster than wages.
To view all questions and flashcards with answers, click on the resource link above. Page 29
Chapter 28: Manufacturing, Productivity, and Labor
Available Study Resources on Quizplus for this Chatper
48 Verified Questions
48 Flashcards
Source URL: https://quizplus.com/quiz/44484
Sample Questions
Q1) During the postwar period,the portion of total employment declined in the ______ sector.
A)agricultural
B)manufacturing
C)mining
D)construction
E) All of the above.
Q2) In 2001,the labor force participation rate of married women equaled ________.
A)about 10 percent.
B)about 25 percent.
C)just over 60 percent.
D)more than 80 percent.
Q3) According to Joseph Schumpeter,the success of capitalism relies on
A)continuous,small improvements to existing products.
B)"gales of creative destruction."
C)careful government direction of the manufacturing sector.
D)a strong agricultural sector to support the manufacturing workforce.
To view all questions and flashcards with answers, click on the resource link above.
30
Chapter 29: Achievements of the Past, Challenges for the Future
Available Study Resources on Quizplus for this Chatper
33 Verified Questions
33 Flashcards
Source URL: https://quizplus.com/quiz/44485
Sample Questions
Q1) Which of the following statements about population and migration is most accurate?
A)In the first decade after the Civil War many of the freedmen moved to the North.
B)During most of US history more African Americans have lived in rural than urban areas.
C)Latinos are expected to comprise a smaller fraction of US population in 2025 than they do now.
D)Between 1810-1850 the population center of the US shifted from the Midwest to the east.
Q2) Over the long run,per capita incomes in different regions of the United States have
A)gradually diverged with the Northeastern region leading all other income groups.
B)gradually converged.
C)gradually converged until roughly 1985,and then diverged as the Western states outpaced other regions.
D)have converged,with the exception of the South.
To view all questions and flashcards with answers, click on the resource link above.