Question 1

Which of the following is most accurate?

Accepted Answer

A)  Most economic historians believe that the policies of the federal government were an important cause of the Great Depression. 
B)  Most economic historians believe rapid increase in inequality caused the Great Depression. 
C)  The US experienced a relative absence of cyclical unemployment and was relatively free from the mass joblessness that had previously plagued the nation. 
D)  More homogenous communities chose to have higher taxes to fund schools. 
A)  Most economic historians believe that the policies of the federal government were an important cause of the Great Depression. 
B)  Most economic historians believe rapid increase in inequality caused the Great Depression. 
C)  The US experienced a relative absence of cyclical unemployment and was relatively free from the mass joblessness that had previously plagued the nation. 
D)  More homogenous communities chose to have higher taxes to fund schools. B

Question 2

In the debate between Gerald Sirkin and Eugene White over the causes of the Stock Market Boom in the late 1920s, Sirkin maintains that prices of shares were ____, while White maintains that prices of shares were ____.

Accepted Answer

A)  not too high because investors assumed that the current rate of growth of dividends would continue; too high because prices had risen much more rapidly than dividends. 
B)  too high because prices had risen much more rapidly than dividends; not too high because investors assumed that the current rate of growth of dividends would continue. 
C)  not too high because interest rates were extremely low in the late 1920s; too high because interest rates were extremely high in the late 1920s. 
D)  too high because interest rates were extremely high in the late 1920s; not too high because interest rates were extremely low in the late 1920s. 
A)  not too high because investors assumed that the current rate of growth of dividends would continue; too high because prices had risen much more rapidly than dividends. 
B)  too high because prices had risen much more rapidly than dividends; not too high because investors assumed that the current rate of growth of dividends would continue. 
C)  not too high because interest rates were extremely low in the late 1920s; too high because interest rates were extremely high in the late 1920s. 
D)  too high because interest rates were extremely high in the late 1920s; not too high because interest rates were extremely low in the late 1920s. A

Question 3

Most historians today agree that

Accepted Answer

A)  Britain was right to demand reparations from Germany. 
B)  trying to extract reparations from Germany was a mistake. 
C)  Germany's reckless spending in the 1920s was chiefly to blame for the Great Depression. 
D)  U.S. loans to Germany merely postponed an otherwise inevitable Great Depression. 
A)  Britain was right to demand reparations from Germany. 
B)  trying to extract reparations from Germany was a mistake. 
C)  Germany's reckless spending in the 1920s was chiefly to blame for the Great Depression. 
D)  U.S. loans to Germany merely postponed an otherwise inevitable Great Depression. B

Question 4

Which of the following pieces of agricultural legislation might be thought of as a solution to a problem that did not exist?

Accepted Answer

A)  the Federal Intermediate Credit Act 
B)  the Smoot-Hawley Tariff Act 
C)  the Agricultural Marketing Act 
D)  the Capper-Volstead Act 
A)  the Federal Intermediate Credit Act 
B)  the Smoot-Hawley Tariff Act 
C)  the Agricultural Marketing Act 
D)  the Capper-Volstead Act

Question 5

"Marriage bars"

Accepted Answer

A)  became popular with "flappers" during prohibition. 
B)  became more widespread in the 1920s 
C)  forced female employees to leave work when they married. 
D)  Both a and b are correct. 
E)  Both b and c are correct. 
A)  became popular with "flappers" during prohibition. 
B)  became more widespread in the 1920s 
C)  forced female employees to leave work when they married. 
D)  Both a and b are correct. 
E)  Both b and c are correct.

Question 6

The 1920 census reported that ________ percent of Americans were urban dwellers.

Accepted Answer

A)  just over 10 
B)  approximately 20 
C)  more than 50 
D)  75 
A)  just over 10 
B)  approximately 20 
C)  more than 50 
D)  75

Question 7

In the 1920s, American (non-farm) labor benefited from all of the following except :

Accepted Answer

A)  low unemployment rates. 
B)  falling weekly hours. 
C)  legal limits on immigration. 
D)  passage of federal minimum wage legislation. 
A)  low unemployment rates. 
B)  falling weekly hours. 
C)  legal limits on immigration. 
D)  passage of federal minimum wage legislation.

Question 8

During the 1920s, income inequality ______ and the return on schooling was relatively _____.

Accepted Answer

A)  increased; low. 
B)  increased; high 
C)  decreased; low. 
D)  decreased; high 
A)  increased; low. 
B)  increased; high 
C)  decreased; low. 
D)  decreased; high

Question 9

According to recent research by Goldin and Katz, __________ led the way in establishing high schools in the 1920s.

Accepted Answer

A)  the urban centers of the North 
B)  the mid-Atlantic states 
C)  California 
D)  the Middle West, including Iowa and Nebraska 
A)  the urban centers of the North 
B)  the mid-Atlantic states 
C)  California 
D)  the Middle West, including Iowa and Nebraska

Question 10

Which of the following is most accurate about the market for call loans.

Accepted Answer

A)  During the 1920s, the supply of loans increased more than the demand. 
B)  During the 1920s, credit was being pulled into the stock market by the rising interest rates on call loans. 
C)  An increased willingness of banks to supply call loans was the decisive factor in causing the bull market. 
D)  The interest rates on call loans decreased significantly during the 1920s. 
A)  During the 1920s, the supply of loans increased more than the demand. 
B)  During the 1920s, credit was being pulled into the stock market by the rising interest rates on call loans. 
C)  An increased willingness of banks to supply call loans was the decisive factor in causing the bull market. 
D)  The interest rates on call loans decreased significantly during the 1920s.

Question 11

The ownership of radios increased from ___ percent in 1920 to ___ percent in 1930.

Accepted Answer

A)  10; 70 
B)  5;10 
C)  less than one; 40 
D)  Radio was not popularized beyond hobbyists until the 1930s 
A)  10; 70 
B)  5;10 
C)  less than one; 40 
D)  Radio was not popularized beyond hobbyists until the 1930s

Question 12

Although the McNary-Haugen bill never became law, it was widely discussed during the 1920s.  Which of the following was NOT a provision of the bill?

Accepted Answer

A)  government purchase of crops in order to raise agricultural prices 
B)  government sale of excess crops on the world market 
C)  payment for the program through capital gains taxes on business 
D)  high tariffs on agricultural imports 
E)  All of the above were provisions of the McNary-Haugen Bill. 
A)  government purchase of crops in order to raise agricultural prices 
B)  government sale of excess crops on the world market 
C)  payment for the program through capital gains taxes on business 
D)  high tariffs on agricultural imports 
E)  All of the above were provisions of the McNary-Haugen Bill.

Question 13

Which of the following is most accurate about the economic conditions in the 1920s?

Accepted Answer

A)  The large increases in demand for products generated significant cyclical unemployment. 
B)  There was a significant decrease in the number of hours worked per week. 
C)  Agriculture was the leading growth sector of the economy. 
D)  The net migration pattern was from urban to rural. 
A)  The large increases in demand for products generated significant cyclical unemployment. 
B)  There was a significant decrease in the number of hours worked per week. 
C)  Agriculture was the leading growth sector of the economy. 
D)  The net migration pattern was from urban to rural.

Question 14

Investors should be willing to pay more for a stock when (controlling for all other things):

Accepted Answer

A)  Future interest rates are expected to increase. 
B)  Future interest rates are expected to decrease. 
C)  Future dividends are expected to decrease. 
A)  Future interest rates are expected to increase. 
B)  Future interest rates are expected to decrease. 
C)  Future dividends are expected to decrease.

Question 15

Which of the following is most accurate about the 1920s?

Accepted Answer

A)  There was an increased use of advertising. 
B)  There was a significant increase in travel and the building of highways. 
C)  There was an increase in leisure time. 
D)  The rapid increases in income reduced the use of credit 
A)  There was an increased use of advertising. 
B)  There was a significant increase in travel and the building of highways. 
C)  There was an increase in leisure time. 
D)  The rapid increases in income reduced the use of credit

Question 16

The best explanation for the end of free immigration in the 1920s is _____.

Accepted Answer

A)  the belated recognition that immigrants remitted large sums of money to their homelands undermining the balance of payments. 
B)  the fear that America would be deluged by immigrants fleeing the war devastated economies of central and eastern Europe. 
C)  the growing realization that free immigration produced a burdensome increase in welfare roles. 
D)  the growing realization that free immigration undermined the incomes of blacks and women. 
A)  the belated recognition that immigrants remitted large sums of money to their homelands undermining the balance of payments. 
B)  the fear that America would be deluged by immigrants fleeing the war devastated economies of central and eastern Europe. 
C)  the growing realization that free immigration produced a burdensome increase in welfare roles. 
D)  the growing realization that free immigration undermined the incomes of blacks and women.

Question 17

Which of the following was not a major source of economic growth in the 1920s?

Accepted Answer

A)  construction of residential housing 
B)  production of consumer durables 
C)  railroad construction 
D)  automobile production 
A)  construction of residential housing 
B)  production of consumer durables 
C)  railroad construction 
D)  automobile production

Question 18

Between 1922 and 1929 stock prices increased by more than

Accepted Answer

A)  100% 
B)  200% 
C)  300%. 
D)  1000%. 
A)  100% 
B)  200% 
C)  300%. 
D)  1000%.

Question 19

Union membership declined during the 1920s due to

Accepted Answer

A)  the growth of the service sector. 
B)  increased use of high-tech, labor-saving devices in the manufacturing sector. 
C)  firms' use of "yellow-dog" contracts. 
D)  poor union leadership. 
E)  All of the above. 
A)  the growth of the service sector. 
B)  increased use of high-tech, labor-saving devices in the manufacturing sector. 
C)  firms' use of "yellow-dog" contracts. 
D)  poor union leadership. 
E)  All of the above.

Question 20

Which groups were least likely to support restrictions on immigration?

Accepted Answer

A)  Organizations like the Ku Klux Klan. 
B)  Unionized labor. 
C)  Employers 
D)  The south. 
A)  Organizations like the Ku Klux Klan. 
B)  Unionized labor. 
C)  Employers 
D)  The south.

Exam 22: The Roaring Twenties

Which of the following is most accurate?

In the debate between Gerald Sirkin and Eugene White over the causes of the Stock Market Boom in the late 1920s, Sirkin maintains that prices of shares were ____, while White maintains that prices of shares were ____.

Most historians today agree that

Which of the following pieces of agricultural legislation might be thought of as a solution to a problem that did not exist?

"Marriage bars"

The 1920 census reported that ________ percent of Americans were urban dwellers.

In the 1920s, American (non-farm) labor benefited from all of the following except :

During the 1920s, income inequality ______ and the return on schooling was relatively _____.

According to recent research by Goldin and Katz, __________ led the way in establishing high schools in the 1920s.

Which of the following is most accurate about the market for call loans.

The ownership of radios increased from ___ percent in 1920 to ___ percent in 1930.

Although the McNary-Haugen bill never became law, it was widely discussed during the 1920s. Which of the following was NOT a provision of the bill?

Which of the following is most accurate about the economic conditions in the 1920s?

Investors should be willing to pay more for a stock when (controlling for all other things):

Which of the following is most accurate about the 1920s?

The best explanation for the end of free immigration in the 1920s is _____.

Which of the following was not a major source of economic growth in the 1920s?

Between 1922 and 1929 stock prices increased by more than

Union membership declined during the 1920s due to

Which groups were least likely to support restrictions on immigration?

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

Hard Realities for a New Nation

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 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

In the debate between Gerald Sirkin and Eugene White over the causes of the Stock Market Boom in the late 1920s, Sirkin maintains that prices of shares were , while White maintains that prices of shares were .

During the 1920s, income inequality __ and the return on schooling was relatively _.

The ownership of radios increased from _ percent in 1920 to _ percent in 1930.