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. […]
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
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)
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)
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 […]
The Aldrich-Vreeland Act of 1908 provided for temporary emergency currency for national banks. Indicate whether the statement is true or false ANSWER TRUE
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
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) […]
A “great merger movement,” whereby firms combined with former rivals to become large firms, began in the 1890s. Who was the first President to look to bigger government as a way to cope with the economic power of these concentrated industries? (a) Woodrow Wilson (b) Herbert Hoover (c) Theodore Roosevelt (d) Franklin Roosevelt ANSWER […]
Until 1863, National Banking was a mix of licensing by state charters, banking done by nonchartered private bankers, and free banking. Indicate whether the statement is true or false ANSWER TRUE
