Question 1

The galloping inflation of the Revolutionary War period

Accepted Answer

A)  persisted throughout the 19th century because of over-issue of paper money by the states. 
B)  has been exaggerated; prices were, in fact, quite moderate during the War. 
C)  was particularly steep because the central government had no taxation powers to back it even partially. 
D)  was accelerated by the repudiation of most wartime-issued paper money following the War. 
A)  persisted throughout the 19th century because of over-issue of paper money by the states. 
B)  has been exaggerated; prices were, in fact, quite moderate during the War. 
C)  was particularly steep because the central government had no taxation powers to back it even partially. 
D)  was accelerated by the repudiation of most wartime-issued paper money following the War. C

Question 2

During the Napoleonic Wars (1793-1815)

Accepted Answer

A)  America experienced periods of  full employment. 
B)  urbanization increased sharply. 
C)  America bore the brunt of the mercantilist policies of both England and France. 
D)  Both a and c are correct. 
E)  Both a and b are correct. 
A)  America experienced periods of  full employment. 
B)  urbanization increased sharply. 
C)  America bore the brunt of the mercantilist policies of both England and France. 
D)  Both a and c are correct. 
E)  Both a and b are correct. D

Question 3

The hyperinflation of the Revolutionary War period was in part caused by the issuance of paper money with a face value in the ______ of dollars.

Accepted Answer

A)  millions 
B)  tens of millions 
C)  hundreds of millions 
D)  billions of dollars 
A)  millions 
B)  tens of millions 
C)  hundreds of millions 
D)  billions of dollars C

Question 4

Post-Revolutionary trade data show that after 1790

Accepted Answer

A)  U.S. trade with non-British areas of the Caribbean increased. 
B)  the export of food to the West Indies increased 
C)  trade in the southern U.S. did not keep pace with population growth. 
D)  the U.S. exported tobacco to France and the Netherlands. 
E)  All of the above. 
A)  U.S. trade with non-British areas of the Caribbean increased. 
B)  the export of food to the West Indies increased 
C)  trade in the southern U.S. did not keep pace with population growth. 
D)  the U.S. exported tobacco to France and the Netherlands. 
E)  All of the above.

Question 5

Immediately following the Revolution,

Accepted Answer

A)  America found itself outside the protection of the British empire 
B)  trade alliances with both Spain and France began to crumble. 
C)  all American-built vessels were ineligible to trade with the British Empire. 
D)  All of the above are correct. 
E)  Only a and b are correct. 
A)  America found itself outside the protection of the British empire 
B)  trade alliances with both Spain and France began to crumble. 
C)  all American-built vessels were ineligible to trade with the British Empire. 
D)  All of the above are correct. 
E)  Only a and b are correct.

Question 6

The writings of the 18th century economist _____________ greatly influenced Constitutional provisions regarding private property rights.

Accepted Answer

A)  John Maynard Keynes 
B)  Alfred Marshall 
C)  Adam Smith 
D)  John Hicks 
A)  John Maynard Keynes 
B)  Alfred Marshall 
C)  Adam Smith 
D)  John Hicks

Question 7

Common American re-exports of the Napoleonic War period included all of the following except

Accepted Answer

A)  cotton 
B)  sugar 
C)  coffee 
D)  spices 
A)  cotton 
B)  sugar 
C)  coffee 
D)  spices

Question 8

What was not one of the problems of the Articles of Confederation?

Accepted Answer

A)  It did not allow the federal government to tax. 
B)  It did not give the federal government sufficient power to define international relationships. 
C)  It could not keep the states together as a political union. 
D)  It did not give the federal government the sole right to mint coins. 
A)  It did not allow the federal government to tax. 
B)  It did not give the federal government sufficient power to define international relationships. 
C)  It could not keep the states together as a political union. 
D)  It did not give the federal government the sole right to mint coins.

Question 9

Which of the following statements accurately characterizes American trade during the Revolutionary War?

Accepted Answer

A)  The American colonies actively traded with France, Holland and Spain until 1778, when trade was hampered by British blockades. 
B)  British blockades hampered the trade activities of first Northern and later Southern ports. 
C)  American trade fell below pre-war levels. 
D)  Decreases in exports led to decreases in domestic production of textiles, beer and other products. 
E)  Both b and c are correct. 
A)  The American colonies actively traded with France, Holland and Spain until 1778, when trade was hampered by British blockades. 
B)  British blockades hampered the trade activities of first Northern and later Southern ports. 
C)  American trade fell below pre-war levels. 
D)  Decreases in exports led to decreases in domestic production of textiles, beer and other products. 
E)  Both b and c are correct.

Question 10

What was not one of the Constitutional compromises about slavery?

Accepted Answer

A)  Limited the importation of slaves to 20 years. 
B)  Northern states had to abide by the Southern states' slavery laws. 
C)  Prevented imported slaves from being taxed. 
D)  Slaves counted a 60% of a person for congressional representation. 
A)  Limited the importation of slaves to 20 years. 
B)  Northern states had to abide by the Southern states' slavery laws. 
C)  Prevented imported slaves from being taxed. 
D)  Slaves counted a 60% of a person for congressional representation.

Question 11

If a the price index was 60 in 2000 and the price index was 90 in 2009, the best estimate of the annual inflation rate between 2000 and 2009 is

Accepted Answer

A)  15%. 
B)  40%. 
C)  50%. 
D)  90%. 
E)  7\5. 
A)  15%. 
B)  40%. 
C)  50%. 
D)  90%. 
E)  7\5.

Question 12

The Embargo Act (1807)

Accepted Answer

A)  had a devastating effect on U.S. manufacturing. 
B)  led to increases in U.S. exports and per capita income. 
C)  increased U.S. imports, but decreased U.S. exports. 
D)  was replaced by the Non-Importation Act of 1809. 
E)  All of the above. 
A)  had a devastating effect on U.S. manufacturing. 
B)  led to increases in U.S. exports and per capita income. 
C)  increased U.S. imports, but decreased U.S. exports. 
D)  was replaced by the Non-Importation Act of 1809. 
E)  All of the above.

Question 13

Having sided with the British during the Revolution, the ___________ lost much of their land and position in America after the War.

Accepted Answer

A)  Iroquois 
B)  French 
C)  Mexicans 
D)  Sioux 
A)  Iroquois 
B)  French 
C)  Mexicans 
D)  Sioux

Question 14

The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of what would have happened had the U.S. not ended the slave trade?

Accepted Answer

A)  The price of slaves would be lower and the wages of free workers would be lower. 
B)  The price of slaves would be higher and the quantity of free workers would be lower. 
C)  The price of slaves would be lower and the wages of free workers would be higher. 
D)  The quantity of slaves would be higher and the quantity of free workers would be higher. 
E)  The quantity of slaves would be lower and the wages of free workers would be lower. 
A)  The price of slaves would be lower and the wages of free workers would be lower. 
B)  The price of slaves would be higher and the quantity of free workers would be lower. 
C)  The price of slaves would be lower and the wages of free workers would be higher. 
D)  The quantity of slaves would be higher and the quantity of free workers would be higher. 
E)  The quantity of slaves would be lower and the wages of free workers would be lower.

Question 15

The Constitution

Accepted Answer

A)  empowers each state to negotiate its own treaties with foreign governments. 
B)  empowers Congress to pay off all public debts, including those incurred by the states. 
C)  allows for states to set tariffs on goods imported from another state. 
D)  allows only Congress to set tariffs on goods moving from one state to another. 
A)  empowers each state to negotiate its own treaties with foreign governments. 
B)  empowers Congress to pay off all public debts, including those incurred by the states. 
C)  allows for states to set tariffs on goods imported from another state. 
D)  allows only Congress to set tariffs on goods moving from one state to another.

Question 16

For the U.S., the Revolutionary War (1775-1781) period could best described as having a rapid growth in:

Accepted Answer

A)  Trade 
B)  Inflation. 
C)  Real per capita income. 
D)  Slave imports. 
A)  Trade 
B)  Inflation. 
C)  Real per capita income. 
D)  Slave imports.

Question 17

The Embargo Act (1807)

Accepted Answer

A)  provided little, if any aid to the emerging manufacturing sector in the U.S. 
B)  successfully forced England and France to ease their harassment of neutral ships. 
C)  reduced U.S. imports, but increased U.S. exports. 
D)  remained in effect until after the Civil War. 
E)  None of the above are correct. 
A)  provided little, if any aid to the emerging manufacturing sector in the U.S. 
B)  successfully forced England and France to ease their harassment of neutral ships. 
C)  reduced U.S. imports, but increased U.S. exports. 
D)  remained in effect until after the Civil War. 
E)  None of the above are correct.

Question 18

What generated the most revenue for the U.S. government for most of the nineteenth century?

Accepted Answer

A)  Income taxes 
B)  Property taxes 
C)  Tariffs on goods imported from other nations 
D)  Inheritance taxes 
E)  Taxes on products shipped between states 
A)  Income taxes 
B)  Property taxes 
C)  Tariffs on goods imported from other nations 
D)  Inheritance taxes 
E)  Taxes on products shipped between states

Question 19

InWhich of the following states suffered the most severe drop in per capita exports between 1768 and 1792?:

Accepted Answer

A)  Massachusetts 
B)  Maryland 
C)  North Carolina 
D)  South Carolina 
A)  Massachusetts 
B)  Maryland 
C)  North Carolina 
D)  South Carolina

Question 20

At the heart of the young nation's economic woes after the Revolutionary War was the fact that Americans

Accepted Answer

A)  had snubbed the French in trade during the war. 
B)  had thought they could rely solely on their long and deep trade relations with Spain. 
C)  were no longer part of the British Empire. 
D)  refused to trade with  independent Caribbean nations. 
A)  had snubbed the French in trade during the war. 
B)  had thought they could rely solely on their long and deep trade relations with Spain. 
C)  were no longer part of the British Empire. 
D)  refused to trade with  independent Caribbean nations.

Exam 7: Hard Realities for a New Nation

The galloping inflation of the Revolutionary War period

During the Napoleonic Wars (1793-1815)

The hyperinflation of the Revolutionary War period was in part caused by the issuance of paper money with a face value in the ______ of dollars.

Post-Revolutionary trade data show that after 1790

Immediately following the Revolution,

The writings of the 18th century economist _____________ greatly influenced Constitutional provisions regarding private property rights.

Common American re-exports of the Napoleonic War period included all of the following except

What was not one of the problems of the Articles of Confederation?

Which of the following statements accurately characterizes American trade during the Revolutionary War?

What was not one of the Constitutional compromises about slavery?

If a the price index was 60 in 2000 and the price index was 90 in 2009, the best estimate of the annual inflation rate between 2000 and 2009 is

The Embargo Act (1807)

Having sided with the British during the Revolution, the ___________ lost much of their land and position in America after the War.

The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of what would have happened had the U.S. not ended the slave trade?

The Constitution

For the U.S., the Revolutionary War (1775-1781) period could best described as having a rapid growth in:

The Embargo Act (1807)

What generated the most revenue for the U.S. government for most of the nineteenth century?

InWhich of the following states suffered the most severe drop in per capita exports between 1768 and 1792?:

At the heart of the young nation's economic woes after the Revolutionary War was the fact that Americans

Growth, Welfare, and the American Economy

Founding the Colonies

Colonial Economic Activities

The Economic Relations of the Colonies

Economic Progress and Wealth

Three Crises and Revolt

Land and the Early Westward Movements

Transportation and Market Growth

Market Expansion and Industry in First Transition

Labor During the Early Industrial Period

Money and Banking in the Developing Economy

The Entrenchment of Slavery and Regional Conflict

War, Recovery, and Regional Divergence

Agricultures Western Advance

Railroads and Economic Change

Industrial Expansion and Concentration

The Emergence of Americas Labor Consciousness

Money, Prices, and Finance in the Postbellum Era

Commerce at Home and Abroad

World War I, 1914-1918

The Roaring Twenties

The Great Depression

The New Deal

World War Ii

The Changing Role of the Federal Government

The Changing Role of the Federal Government: Consumer Safety, Agriculture, the Environment, and Housing

Monetary Policy, Fiscal Policy, and the Business Cycle After World War Ii

Manufacturing, Productivity, and Labor

Achievements of the Past, Challenges for the Future

Filters

The writings of the 18^th century economist _____________ greatly influenced Constitutional provisions regarding private property rights.