Navigation » List of Schools » Los Angeles Valley College » Economics » Econ 010 – Economic History of the United States » Fall 2021 » Exam 1
Below are the questions for the exam with the choices of answers:
Question #1
A Anger at the free trade policies at the time of the Democratic Party
B A large number of French migrants from Canada’s Quebec moving to Boston and New York City in the 1840s
C The increased migration of people from Ireland, Germany and Scotland during the early and mid-1800s
D The quick movement of America’s settlements westward which led to people native to those westward areas moving to the Northeastern United States
Question #2
A Higher prices of tobacco
B Increased supply of tobacco from other parts of the world
C Increased demand for cotton
D Inventions that increased the productivity of cotton farming
Question #3
A Increased the size of the land parcels offered
B Decreased the price charged per acre
C Provided subsidies to farmers to grow crops there paid for by taxes on Southern states
D Allowed the settlers to hire boring economics teachers to lecture them on supply and demand
Question #4
A The federal government was given the power to build roads
B It granted the states the power to print their own money
C The federal government was given the sole power to apply tariffs
D It established that the federal government had the power to tax
Question #5
A FALSE
B TRUE
Question #6
A Leave the price unchanged
B Increase the price
C Decrease the price
D Unclear
Question #7
A It did not happen during the colonial period or even 50 years after Independence
B It has nothing to do with health and education
C It only takes place when an economy shrinks in economic output
D None of the above
Question #8
A FALSE
B TRUE
Question #9
A FALSE
B TRUE
Question #10
A Colonists migrating back to Europe
B Some American property owners
C European migrants to the US looking to move west to settle down
D None of the above
Question #11
A Very low due to the power of the English and later British monarchy who always watched and tightly controlled colonial policy
B High because of the governors being financially dependent on the colonists and the British government in London having little interest in colonial policy
C High until 1685 when King James II was deposed and power moved from the monarchy to Parliament
D Very low due to the power of the colonial governors
Question #12
A The year 2138
B The year 2254
C The year 2036
D None of the above
Question #13
A The desire to prevent further conflict between Native Americans and settlers
B The desire for British landowners for tax relief
C The desire to help a company considered by some British to be important
D The different beliefs about whether to have slavery
Question #14
A FALSE
B TRUE
Question #15
A Some people in Britain benefited from it, some people in America benefited from it and were hurt by it
B Some people in America benefited from it
C Some people in America benefited from it and were hurt by it
D Some people in Britain benefited from it
Question #16
A Britain’s victory actually led to a change in priorities regarding the frontiers which contributed to the Revolutionary War
B It led to the colonists viewing the British government as free riders
C It was supported by almost all the American colonists
D While it lasted several years, it did not require much spending by the British government
Question #17
A Wealth inequality emerged over time as initial settlements transformed into towns and sometimes cities
B The increase in commerce tended to decrease wealth inequality
C Wealth inequality was present from the very founding of the colonies
D None of the above
Question #18
A It was equal to 1
B It was less than 1
C PED was never discussed in this course
D It was greater than 1
Question #19
A Doubling every 14 years
B Due to technological advances like faster speeds
C Faster in the South during the 18th century than in the Middle Colonies
D Due to other factors like the decline in piracy and decreasing the time stuck at ports
Question #20
A Each colony eventually had its own fiat money
B The forms of money used in the colonies did not change at all from 1675 to 1775
C Whether with friends or strangers, people found bartering to be convenient
D Thomas Jefferson thought the use of money was oppressive
Question #21
A President giving speeches to encourage people to specialize more
B Policies that decreased immigration from Europe into the US
C Closing off more and more land in the West from settlement
D None of the above
Question #22
A At its beginning, it was meant as a place to welcome Spanish tourists from Florida
B It was once the center of manufacturing in the American colonies
C At its beginning, the state outlawed slavery
D From its beginning, it had the strictest laws on dealing with people in debt
Question #23
A TRUE
B FALSE
Question #24
A They ensured people migrating from Britain to America returned to Britain within 10 years
B They helped raise the country’s population in America which helped greatly for Britain to defeat its rivals in America
C They helped the colonial government adopt and stick with Britain’s currency
D They helped the British to transport their physical capital and technology to the colonies
Question #25
A People there had never heard of slavery
B Strong opposition to the idea of owning other people
C The North’s climate was not conducive to slavery
D Large number of European laborers in the North who were willing to work for very low wages
Question #26
A Inelastic
B Nazarov elastic
C Elastic
D None of the above
Question #27
A TRUE
B FALSE
Question #28
A Longer than 4 years
B Shorter than 4 years
C Exactly 4 years
D None of the above
Question #29
A FALSE
B TRUE
Question #30
A They were more interested in attaining gold and silver and forcibly converting the population to Catholicism
B They were not interested in permanent settlements
C It had no navy
D None of the above
Question #31
A The study of being boring on an individual and national scale
B The study of decision-making of how to allocate scarce resources
C The study of past economic development and economic events
D The study of decision-making of how to allocate scarce resources at the national level
Question #32
A The study of decision-making of how to allocate scarce resources
B The study of decision-making of how to allocate scarce resources by individual persons and firms
C The study of being boring (your teacher sure is a natural)
D The study of decision-making of how to allocate scarce resources at the national level