The Sherman Act of 1890 and the Clayton Act of 1914 were Antitrust Acts whose purposes included all of the following except (a) The maintenance of a competitive economy (b) The prevention of monopolies, combinations and other conspiracies in restraint of trade (c) The prevention of price discrimination that reduces competition (d) The prevention of […]
During the antebellum period, two systems of land use emerged—the self-sufficient system of the North, which did not rely on specialization, and the specialized system of the South, which concentrated the use of slaves. Indicate whether the statement is true or false ANSWER TRUE
Andrew Carnegie dominated the steel industry on the basis of the Bessemer converter. This technology permitted unskilled men to produce large quantities of steel at relatively low costs. This technology was (a) invented by Carnegie. (b) stolen from the British inventor Bessemer. (c) acquired legally from the British inventor Bessemer. (d) imported from Germany. […]
How does the federal government influence the flow of goods and services into the country and, consequently, create extra profitability or rents in domestic production that would not have been there under free market conditions? (a) tariffs (b) minimum wage laws (c) control of the public domain (d) federal income taxes ANSWER (a)
Between 1810 and 1850, the U.S. population living in the trans-Appalachian states increased significantly. Indicate whether the statement is true or false ANSWER TRUE
Rising agricultural prices and opportunities to own land provided people with incentives to migrate to the trans-Appalachian states. Indicate whether the statement is true or false ANSWER TRUE
By 1860, over one-half of all Southern farms utilized slave labor. Indicate whether the statement is true or false ANSWER FALSE
In which case did the U.S. Supreme Court decide the Constitution was “intended to endure for ages to come and, consequently, to be adapted to various crises of human affairs”? (a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819) ANSWER (c)
In which of the following cases did the U.S. Supreme Court decide that a corporation was an “individual” but not a constitutional citizen? (a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819) ANSWER (d)
According to Fogel and Engerman (1974), Northern farmers extensively utilized hired labor. Indicate whether the statement is true or false ANSWER FALSE
