The panic of 1893 was caused by the Sherman Silver Act of 1890, which doubled the Treasury’s monthly purchase rates to 4. 5 million ounces of silver at current market prices and was eased when President Cleveland called for the Act’s repeal on June 30, 1893. Indicate whether the statement is true or false […]
Date: September 10th, 2020
The need to issue paper money increased with the frequent use of checks. Indicate whether the statement is true or false ANSWER FALSE
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
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
