During a banking crisis during the period of free banking, the unexpected surge in the demand for money in the form of specie would cause bankers to call in loans which would, in turn, squeeze credit, slow output and increase unemployment. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Which statement holds true for the period of slavery in U.S. history? (a) Slavery was a moral institution. (b) The system wasted natural resources. (c) It provided slaveholders with incentives to avoid purchasing farm implements. (d) It developed land and profitably produced agricultural goods for sale in world markets. ANSWER (d)
Date: September 10th, 2020
By the mid-nineteenth century, (a) indentured servitude disappeared in the U.S. (b) slavery was disappearing. (c) more and more immigrants were drawn into the production of agricultural goods on large plantations. (d) all of the above were true. ANSWER (a)
Date: September 10th, 2020
What does the study of the balance of international trade and finance between 1790 and 1860 help American economic historians do? (a) Understand what the U.S. sold to the rest of the world (b) Understand what the rest of the world sold to the U.S. (c) Determine if there is a link between these international […]
Date: September 10th, 2020
The Aldrich-Vreeland Act of 1908 provided for temporary emergency currency for national banks. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The Federal Reserve Bank of 1914 permitted the Fed to compete with banks for profits. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Exports from and imports to the U.S. were important to growth in the U.S. between 1790 and 1860 because (a) exports to other countries expanded the market base for U.S. manufacturing goods. (b) they supported the U.S. economy during a time in which it used more agricultural goods and crude materials than it produced. (c) […]
Date: September 10th, 2020
Merchant banks and land mortgage companies were the result of the expansions in the transportation and industrial systems. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
On the eve of the Civil War, what was the number one export in the U.S.? (a) Cotton (b) Wheat (c) Gold (d) Shipping services ANSWER (a)
Date: September 10th, 2020
Intangible assets like stocks and bonds were created by U.S. industrial firms and traded elsewhere for capital funds. This activity eventually gave rise to investment banking. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
