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) […]
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
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)
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
The Civil War was a result of (a) the dispute over slave ownership in the South. (b) attempts to keep slaves out of the West. (c) attempts to protect state rights over federal control. (d) all of the above. ANSWER (d)
Which of the following arguments is consistent with the claims of Robert Fogel (1989)? (a) The success of slave labor was tied closely to the number of labor hours per year. (b) Compared to the slaves, the self-sufficient farmers in the North and those in the South were more likely to not work on Sundays, […]
Contrary to Populist views, the lending practices during industrialization provided ample opportunities for firms and agriculturalists to invest, grow and develop. Indicate whether the statement is true or false ANSWER TRUE
Borrowers rely on financial intermediaries to hold and find uses for their funds that promise a positive expected rate of return. Indicate whether the statement is true or false ANSWER FALSE
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 […]
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)
