Davis (1963) compares U.S. and British industrialization. What does he note in each country during industrialization? (a) A rise in the number of giant banks in both countries (b) A rise in the number of small banks in the U.S. but a rise in the number of giant banks in Great Britain (c) A rise […]
Date: September 10th, 2020
A fundamental criticism of Time on the Cross is that economics cannot be used to simply compare the welfare of the slaves to their free, white counterparts. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
According to Davis (1963), industrial firms need capital to expand, grow and develop. They will seek the most efficient means to finance this capital. In the U.S. during its period of industrialization, industrialists raised the resources needed to invest in capital accumulation by (a) tapping into the lending power of giant commercial banks. (b) utilizing […]
Date: September 10th, 2020
Rational slave owners had economic incentive to adequately clothe, feed and care for their slaves. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
How do banks and financial intermediation support economic growth and development? (a) By helping businesses secure the funds needed for capital accumulation and technology advancements (b) By assisting customers in buying durable and nondurable goods and services (c) By financing government expenditures when tax revenue falls below planned spending (d) By granting loans to foreign-born […]
Date: September 10th, 2020
Slaves had incentives to remain docile, not resist their work demands and continue to depend on slavery as an institution according to Elkins (1959). Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Which is considered fiat money? (a) Greenbacks (b) Gold coins (c) Silver dollars (d) Silver certificates ANSWER (a)
Date: September 10th, 2020
There is evidence to suggest that slaves were commonly sold and families were often separated. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Slaver owners were optimistic about the economic future of slavery on the eve of the Civil War. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The Federal Reserve System began operating in 1914, finally (a) giving the U.S. its first 100 percent gold-backed paper money. (b) creating a privately-owned system for clearing checks on a national scale. (c) giving the U.S. its first government-owned central bank. (d) giving the U.S. its first unified currency issue, the Federal Reserve Note. […]
Date: September 10th, 2020
