In the antebellum economy of the South, what was not produced for subsistence consumption? (a) Corn (b) Cotton (c) Cattle (d) All of the above ANSWER (b)
Date: September 10th, 2020
In 1912, the National Monetary Commission denounced the existing financial system of the U.S. and, in a report, detailed the levels at which it restricted domestic producers’ abilities to function globally. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The research of Gavin Wright (1978) on the antebellum period suggests that (a) there was no limit on the profitability of the plantation utilizing slave labor. (b) issues with management, communication and discipline limited the profitability of the slave plantation. (c) more than 75 percent of the Southern farms were plantations and utilized slave labor. […]
Date: September 10th, 2020
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
In 1860, earnings from cotton exports (a) were minimal. (b) accounted for a small percentage of Gross Domestic Product. (c) exceeded the total revenue of the U.S. government by four-fold. (d) were what attracted the majority of agriculturalists into cotton production. ANSWER (c)
Date: September 10th, 2020
Until 1860, the domestic and international demand for cotton provided motive to expand slavery. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
