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 The quick movement of America’s settlements westward which led to people native to those westward areas moving to the Northeastern United States
B The increased migration of people from Ireland, Germany and Scotland during the early and mid-1800s
C Anger at the free trade policies at the time of the Democratic Party
D A large number of French migrants from Canada’s Quebec moving to Boston and New York City in the 1840s
Question #2
A Increased demand for cotton
B Increased supply of tobacco from other parts of the world
C Higher prices of tobacco
D Inventions that increased the productivity of cotton farming
Question #3
A Decreased the price charged per acre
B Allowed the settlers to hire boring economics teachers to lecture them on supply and demand
C Provided subsidies to farmers to grow crops there paid for by taxes on Southern states
D Increased the size of the land parcels offered
Question #4
A It granted the states the power to print their own money
B It established that the federal government had the power to tax
C The federal government was given the power to build roads
D The federal government was given the sole power to apply tariffs
Question #5
A TRUE
B FALSE
Question #6
A Unclear
B Increase the price
C Decrease the price
D Leave the price unchanged
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 TRUE
B FALSE
Question #9
A FALSE
B TRUE
Question #10
A European migrants to the US looking to move west to settle down
B Some American property owners
C Colonists migrating back to Europe
D None of the above
Question #11
A Very low due to the power of the colonial governors
B Very low due to the power of the English and later British monarchy who always watched and tightly controlled colonial policy
C High because of the governors being financially dependent on the colonists and the British government in London having little interest in colonial policy
D High until 1685 when King James II was deposed and power moved from the monarchy to Parliament
Question #12
A The year 2254
B The year 2138
C The year 2036
D None of the above
Question #13
A The different beliefs about whether to have slavery
B The desire to help a company considered by some British to be important
C The desire to prevent further conflict between Native Americans and settlers
D The desire for British landowners for tax relief
Question #14
A FALSE
B TRUE
Question #15
A Some people in Britain benefited from it
B Some people in America benefited from it and were hurt by it
C Some people in America benefited from it
D Some people in Britain benefited from it, some people in America benefited from it and were hurt by 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 was supported by almost all the American colonists
C It led to the colonists viewing the British government as free riders
D While it lasted several years, it did not require much spending by the British government
Question #17
A The increase in commerce tended to decrease wealth inequality
B Wealth inequality emerged over time as initial settlements transformed into towns and sometimes cities
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 PED was never discussed in this course
C It was less than 1
D It was greater than 1
Question #19
A Due to other factors like the decline in piracy and decreasing the time stuck at ports
B Faster in the South during the 18th century than in the Middle Colonies
C Doubling every 14 years
D Due to technological advances like faster speeds
Question #20
A The forms of money used in the colonies did not change at all from 1675 to 1775
B Thomas Jefferson thought the use of money was oppressive
C Each colony eventually had its own fiat money
D Whether with friends or strangers, people found bartering to be convenient
Question #21
A Closing off more and more land in the West from settlement
B Policies that decreased immigration from Europe into the US
C President giving speeches to encourage people to specialize more
D None of the above
Question #22
A It was once the center of manufacturing in the American colonies
B From its beginning, it had the strictest laws on dealing with people in debt
C At its beginning, the state outlawed slavery
D At its beginning, it was meant as a place to welcome Spanish tourists from Florida
Question #23
A FALSE
B TRUE
Question #24
A They helped raise the country’s population in America which helped greatly for Britain to defeat its rivals in America
B They ensured people migrating from Britain to America returned to Britain within 10 years
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 The North’s climate was not conducive to slavery
B People there had never heard of slavery
C Large number of European laborers in the North who were willing to work for very low wages
D Strong opposition to the idea of owning other people
Question #26
A Inelastic
B Elastic
C Nazarov elastic
D None of the above
Question #27
A TRUE
B FALSE
Question #28
A Shorter than 4 years
B Exactly 4 years
C Longer than 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 past economic development and economic events
C The study of decision-making of how to allocate scarce resources at the national level
D The study of decision-making of how to allocate scarce resources
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 at the national level
C The study of being boring (your teacher sure is a natural)
D The study of decision-making of how to allocate scarce resources by individual persons and firms