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
Slaves were (a) unprofitable substitutes for wage labor on plantations. (b) profitable complements to capital equipment. (c) denied the use of shovels, hoes and axes. (d) all of the above. ANSWER (b)
Date: September 10th, 2020
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 […]
Date: September 10th, 2020
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
Date: September 10th, 2020
When transportation costs fall, consumer prices have a tendency to rise. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
When he invented the cotton gin in 1793, Eli Whitney exhibited (a) entrepreneurial behavior. (b) greedy behavior. (c) selfish behavior. (d) immoral behavior. ANSWER (d)
Date: September 10th, 2020
During the antebellum period, the majority of the family labor on farms was devoted to investment type of activities—clearing land, constructing fences and buildings, and feeding and breeding livestock. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The Populists succeeded in using the federal government to limit subsidies granted to corporations. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
All national banks were required to join the Federal Reserve Bank of their region; however, state banks could do so on a voluntary basis. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The Kansas-Nebraska Act of 1854 did not allow popular sovereignty over the issue of slavery. Indicate whether the statement is true or false ANSWER False Multiple Choice Using the economic way of thinking and holding all else constant, choose the best answer among those provided.
Date: September 10th, 2020
