Technological advancements in the antebellum period were (a) constant and stable. (b) almost non-existent. (c) concentrated in manufacturing. (d) slow in coming but labor-saving—especially in agriculture—when they emerged. ANSWER (d)
Date: September 10th, 2020
The increase in tax on state bank notes from 2 to 10 percent provided state banks incentive to (a) attract more demand deposits and increase the use of checks. (b) increase the amount of state notes and use them to extend bank credit. (c) increase the minting of coins and use them for exchange and […]
Date: September 10th, 2020
Which of the following factors caused the Civil War? (a) Slavery (b) The conflict between the two systems of agriculture (c) A shift in political power resulting from new states entering the Union as free or slave states (d) All of the above ANSWER (d)
Date: September 10th, 2020
What are demand deposits? (a) Money held by private individuals or corporations placed in depository accounts at banks (b) Liabilities (things that are owed) to banks and assets (things of value) to depositors or bank customers (c) Checking accounts that depositors can use on demand (d) All of the above ANSWER (d)
Date: September 10th, 2020
Out of the various types of M1 (demand deposits, coins and bank notes), only demand deposits (a) can be used to generate loans by banks. (b) serve as a medium of exchange. (c) serve as a unit of account. (d) store value. ANSWER (a)
Date: September 10th, 2020
Between 1790 and 1860, Southern population growth was dominated by growth in the slave population. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Fogel and Engerman (1974) find evidence to suggest that young slave children were often sold by profit-maximizing slave owners. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Today, financial intermediaries specialize in all of the following activities except (a) Printing money (b) Lending (c) Borrowing (d) Accepting deposits ANSWER (a)
Date: September 10th, 2020
According to the research of economic historians, Southern farms (a) realized the gains from regional specialization in the production of cotton, tobacco, sugar and rice. (b) used the gang system to increase the production of slaves. (c) were far larger, on average, than farms in the North. (d) were all of the above. ANSWER […]
Date: September 10th, 2020
The report of the 1911 National Monetary Commission (a) advocated a turn to bimetallism. (b) advocated unification of the state and national banking systems. (c) advocated centralized reserve associations which would coordinate commercial banking processes such as check clearing. (d) advocated a unified central bank modeled after the Bank of England. ANSWER (c)
Date: September 10th, 2020
