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 A large number of French migrants from Canada’s Quebec moving to Boston and New York City in the 1840s
B Anger at the free trade policies at the time of the Democratic Party
C The quick movement of America’s settlements westward which led to people native to those westward areas moving to the Northeastern United States
D The increased migration of people from Ireland, Germany and Scotland during the early and mid-1800s
Question #2
A Inventions that increased the productivity of cotton farming
B Increased demand for cotton
C Increased supply of tobacco from other parts of the world
D Higher prices of tobacco
Question #3
A Decreased the price charged per acre
B Increased the size of the land parcels offered
C Allowed the settlers to hire boring economics teachers to lecture them on supply and demand
D Provided subsidies to farmers to grow crops there paid for by taxes on Southern states
Question #4
A It established that the federal government had the power to tax
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 The federal government was given the power to build roads
Question #5
A TRUE
B FALSE
Question #6
A Decrease the price
B Unclear
C Increase 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 TRUE
B FALSE
Question #10
A Colonists migrating back to Europe
B European migrants to the US looking to move west to settle down
C Some American property owners
D None of the above
Question #11
A High because of the governors being financially dependent on the colonists and the British government in London having little interest in colonial policy
B Very low due to the power of the colonial governors
C Very low due to the power of the English and later British monarchy who always watched and tightly controlled 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 2036
C The year 2138
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 for British landowners for tax relief
D The desire to prevent further conflict between Native Americans and settlers
Question #14
A FALSE
B TRUE
Question #15
A Some people in America benefited from it
B Some people in Britain benefited from it
C Some people in America benefited from it and were hurt by it
D Some people in Britain benefited from it, some people in America benefited from it and were hurt by it
Question #16
A It led to the colonists viewing the British government as free riders
B Britain’s victory actually led to a change in priorities regarding the frontiers which contributed to the Revolutionary War
C While it lasted several years, it did not require much spending by the British government
D It was supported by almost all the American colonists
Question #17
A The increase in commerce tended to decrease wealth inequality
B Wealth inequality was present from the very founding of the colonies
C Wealth inequality emerged over time as initial settlements transformed into towns and sometimes cities
D None of the above
Question #18
A It was greater than 1
B It was less than 1
C It was equal to 1
D PED was never discussed in this course
Question #19
A Doubling every 14 years
B Due to other factors like the decline in piracy and decreasing the time stuck at ports
C Due to technological advances like faster speeds
D Faster in the South during the 18th century than in the Middle Colonies
Question #20
A The forms of money used in the colonies did not change at all from 1675 to 1775
B Each colony eventually had its own fiat money
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 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 At its beginning, the state outlawed slavery
B From its beginning, it had the strictest laws on dealing with people in debt
C It was once the center of manufacturing in the American colonies
D At its beginning, it was meant as a place to welcome Spanish tourists from Florida
Question #23
A TRUE
B FALSE
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 helped the colonial government adopt and stick with Britain’s currency
C They helped the British to transport their physical capital and technology to the colonies
D They ensured people migrating from Britain to America returned to Britain within 10 years
Question #25
A Large number of European laborers in the North who were willing to work for very low wages
B The North’s climate was not conducive to slavery
C People there had never heard of slavery
D Strong opposition to the idea of owning other people
Question #26
A Nazarov elastic
B Inelastic
C Elastic
D None of the above
Question #27
A FALSE
B TRUE
Question #28
A Shorter than 4 years
B Longer than 4 years
C Exactly 4 years
D None of the above
Question #29
A TRUE
B FALSE
Question #30
A It had no navy
B They were not interested in permanent settlements
C They were more interested in attaining gold and silver and forcibly converting the population to Catholicism
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 at the national level
C The study of decision-making of how to allocate scarce resources
D The study of past economic development and economic events
Question #32
A The study of decision-making of how to allocate scarce resources at the national level
B The study of decision-making of how to allocate scarce resources
C The study of decision-making of how to allocate scarce resources by individual persons and firms
D The study of being boring (your teacher sure is a natural)