Question 1

Which U.S. President was in office for most of World War II?

Accepted Answer

A)  Herbert Hoover. 
B)  Abraham Lincoln. 
C)  Franklin D. Roosevelt. 
D)  Lyndon Johnson 
E)  Dwight Eisenhower. 
A)  Herbert Hoover. 
B)  Abraham Lincoln. 
C)  Franklin D. Roosevelt. 
D)  Lyndon Johnson 
E)  Dwight Eisenhower. C

Question 2

What best describes real per capita GDP in the US between 1929 and 1959?

Accepted Answer

A)  It was a period of consistent increase. 
B)  It was lower at the end of the period than the beginning because of the Great Depression. 
C)  Although it was erratic in the early part of this period during the Great Depression, it increased consistently after World War II. 
D)  It grew the most during World War II. 
A)  It was a period of consistent increase. 
B)  It was lower at the end of the period than the beginning because of the Great Depression. 
C)  Although it was erratic in the early part of this period during the Great Depression, it increased consistently after World War II. 
D)  It grew the most during World War II. D

Question 3

The wage and price controls of the 1940s eventually led to

Accepted Answer

A)  black markets. 
B)  "forced uptrading." 
C)  calls for nationalizing the nation's cattle herds. 
D)  All of the above are correct. 
A)  black markets. 
B)  "forced uptrading." 
C)  calls for nationalizing the nation's cattle herds. 
D)  All of the above are correct. D

Question 4

The postwar years

Accepted Answer

A)  ushered in what has been described as an unthinking materialist culture. 
B)  ushered in what has been described as a consumer-oriented society that represented the fulfillment of the American dream. 
C)  featured an unusual deviation from the long-term trend toward smaller families. 
D)  All of the above are correct. 
E)  Only a and b are correct. 
A)  ushered in what has been described as an unthinking materialist culture. 
B)  ushered in what has been described as a consumer-oriented society that represented the fulfillment of the American dream. 
C)  featured an unusual deviation from the long-term trend toward smaller families. 
D)  All of the above are correct. 
E)  Only a and b are correct.

Question 5

Which of the following statements is most accurate about the role of minorities in the US?

Accepted Answer

A)  The armed services were desegregated before World War II. 
B)  Although African Americans had historically lived on agricultural areas, by 1970 about 75% of African Americans lived in urban areas. 
C)  During World War II, there was a large increase in demand for hiring highly skilled Japanese-Americans. 
A)  The armed services were desegregated before World War II. 
B)  Although African Americans had historically lived on agricultural areas, by 1970 about 75% of African Americans lived in urban areas. 
C)  During World War II, there was a large increase in demand for hiring highly skilled Japanese-Americans.

Question 6

Forms of federal taxation used to finance the war effort did NOT include

Accepted Answer

A)  the income tax. 
B)  the corporate tax. 
C)  the excess profits tax. 
D)  sales tax. 
A)  the income tax. 
B)  the corporate tax. 
C)  the excess profits tax. 
D)  sales tax.

Question 7

Which of the following is most accurate about women's involvement in the labor force?

Accepted Answer

A)  Over half of the women who entered the labor force between 1940 and 1944 had dropped out by 1950. 
B)  Between 1940 and 1950 the number of women employed in the labor force dropped. 
C)  After World War II, the supply of young married women available to work increased. 
D)  Women made their largest gains in employment in the service and agricultural sectors. 
A)  Over half of the women who entered the labor force between 1940 and 1944 had dropped out by 1950. 
B)  Between 1940 and 1950 the number of women employed in the labor force dropped. 
C)  After World War II, the supply of young married women available to work increased. 
D)  Women made their largest gains in employment in the service and agricultural sectors.

Question 8

An economy producing at the wrong point on its production possibility frontier is ___.

Accepted Answer

A)  efficient, because it is on the production possibility frontier. 
B)  inefficient, because the combination of goods and services produced is not what people want. 
C)  efficient, because the economy is producing goods at the lowest possible cost. 
D)  inefficient, because that combination of goods could be produced at a lower cost if more efficient technology were employed. 
A)  efficient, because it is on the production possibility frontier. 
B)  inefficient, because the combination of goods and services produced is not what people want. 
C)  efficient, because the economy is producing goods at the lowest possible cost. 
D)  inefficient, because that combination of goods could be produced at a lower cost if more efficient technology were employed.

Question 9

A distribution of goods is inefficient

Accepted Answer

A)  only when an economy is producing inside its production possibility frontier. 
B)  only when an economy is producing at the wrong point on the production possibility frontier. 
C)  either when an economy is producing inside the production possibility frontier or when an economy is producing at the wrong point on the production possibility frontier. 
D)  when the economy is producing at the optimal point on the production possibility frontier. 
A)  only when an economy is producing inside its production possibility frontier. 
B)  only when an economy is producing at the wrong point on the production possibility frontier. 
C)  either when an economy is producing inside the production possibility frontier or when an economy is producing at the wrong point on the production possibility frontier. 
D)  when the economy is producing at the optimal point on the production possibility frontier.

Question 10

When an economy is at full employment, increases in military production

Accepted Answer

A)  cause a movement along the PPF. 
B)  cause an outward shift in the PPF. 
C)  mean that the economy is operating outside the PPF. 
D)  mean that the economy is operating inside the PPF. 
A)  cause a movement along the PPF. 
B)  cause an outward shift in the PPF. 
C)  mean that the economy is operating outside the PPF. 
D)  mean that the economy is operating inside the PPF.

Question 11

During World War II, price supports for agriculture

Accepted Answer

A)  were not generally needed because of high demand. 
B)  were considered by Congress but never enacted. 
C)  were rescinded in order to encourage reductions in output. 
D)  led to decreases in the supply of many products. 
A)  were not generally needed because of high demand. 
B)  were considered by Congress but never enacted. 
C)  were rescinded in order to encourage reductions in output. 
D)  led to decreases in the supply of many products.

Question 12

Which of the following statements about labor unions and management during the 1940s is most accurate ?

Accepted Answer

A)  The real earnings of people in labor unions increased significantly during World War II. 
B)  During World War II there were many strikes. 
C)  There were few strikes during World War II because management frequently locked-out labor before the employees could strike. 
D)  Immediately following the end of the war was a period of significant earnings growth for labor union members. 
A)  The real earnings of people in labor unions increased significantly during World War II. 
B)  During World War II there were many strikes. 
C)  There were few strikes during World War II because management frequently locked-out labor before the employees could strike. 
D)  Immediately following the end of the war was a period of significant earnings growth for labor union members.

Question 13

Which of the following were NOT related to the price controls that existed during World War II?

Accepted Answer

A)  Price ceilings facilitated the formulation of black markets for automobiles. 
B)  A black market for meat formed, referred to as "meat-easies," due to a price ceiling on meat. 
C)  Price ceilings created an excess demand of consumer durable goods. 
D)  Despite price ceilings, hidden price increases were realized through deterioration in the quality of goods. 
A)  Price ceilings facilitated the formulation of black markets for automobiles. 
B)  A black market for meat formed, referred to as "meat-easies," due to a price ceiling on meat. 
C)  Price ceilings created an excess demand of consumer durable goods. 
D)  Despite price ceilings, hidden price increases were realized through deterioration in the quality of goods.

Question 14

In 1940, civilian purchases of goods and services equaled roughly _____ of GDP; by 1943, this figure had changed to ________.

Accepted Answer

A)  92 percent; 50 percent. 
B)  50 percent; 50 percent. 
C)  25 percent; 75 percent. 
D)  50 percent; 10 percent. 
A)  92 percent; 50 percent. 
B)  50 percent; 50 percent. 
C)  25 percent; 75 percent. 
D)  50 percent; 10 percent.

Question 15

In 1947, which of the following activities were NOT made illegal for labor unions to do?

Accepted Answer

A)  Coerce employees who are working at a firm to join a union. 
B)  Discriminate against employees. 
C)  Encourage employees to engage in a strike to force one employer to cease doing business with another employer. 
D)  Collect membership dues. 
A)  Coerce employees who are working at a firm to join a union. 
B)  Discriminate against employees. 
C)  Encourage employees to engage in a strike to force one employer to cease doing business with another employer. 
D)  Collect membership dues.

Question 16

The GI Bill is often credited for its

Accepted Answer

A)  universal health insurance. 
B)  unemployment compensation program. 
C)  impact on the rapid growth of higher education after World War II. 
D)  high efficiency and lean bureaucracy. 
A)  universal health insurance. 
B)  unemployment compensation program. 
C)  impact on the rapid growth of higher education after World War II. 
D)  high efficiency and lean bureaucracy.

Question 17

If supply is perfectly inelastic and demand increases,

Accepted Answer

A)  price falls and output rises. 
B)  price rises and output falls. 
C)  price rises and output remains unchanged. 
D)  price rises and output rises. 
A)  price falls and output rises. 
B)  price rises and output falls. 
C)  price rises and output remains unchanged. 
D)  price rises and output rises.

Question 18

What statement best describes the production and allocation of resources after the United States entered World War II?

Accepted Answer

A)  Government spending as a percentage of GNP during this period never exceeded the maximum level at the height of the Depression under Roosevelt's New Deal policies. 
B)  Production shifted out closer to the production possibilities frontier, primarily as a result of technical change. 
C)  Production shifted out toward the production possibilities frontier, primarily as a result of underutilized resources being utilized. 
D)  Greater production of goods to support the war involved nominally higher incidents of disabling injuries in the workplace, yet not increases in the rates of disabling injuries. 
A)  Government spending as a percentage of GNP during this period never exceeded the maximum level at the height of the Depression under Roosevelt's New Deal policies. 
B)  Production shifted out closer to the production possibilities frontier, primarily as a result of technical change. 
C)  Production shifted out toward the production possibilities frontier, primarily as a result of underutilized resources being utilized. 
D)  Greater production of goods to support the war involved nominally higher incidents of disabling injuries in the workplace, yet not increases in the rates of disabling injuries.

Question 19

What was the least important method of financing World War II?

Accepted Answer

A)  tax revenues 
B)  borrowing from the public 
C)  creating new mone 
D)  using the draft for military purposes 
A)  tax revenues 
B)  borrowing from the public 
C)  creating new mone 
D)  using the draft for military purposes

Question 20

According to Robert Higgs,

Accepted Answer

A)  World War II was a period of unique prosperity. 
B)  World War II was a period of continued depression that did not end until after the war. 
C)  measures of GDP during World War II are understated. 
D)  civilian consumption of most items actually rose during World War II. 
A)  World War II was a period of unique prosperity. 
B)  World War II was a period of continued depression that did not end until after the war. 
C)  measures of GDP during World War II are understated. 
D)  civilian consumption of most items actually rose during World War II.

Exam 25: World War Ii

Which U.S. President was in office for most of World War II?

What best describes real per capita GDP in the US between 1929 and 1959?

The wage and price controls of the 1940s eventually led to

The postwar years

Which of the following statements is most accurate about the role of minorities in the US?

Forms of federal taxation used to finance the war effort did NOT include

Which of the following is most accurate about women's involvement in the labor force?

An economy producing at the wrong point on its production possibility frontier is ___.

A distribution of goods is inefficient

When an economy is at full employment, increases in military production

During World War II, price supports for agriculture

Which of the following statements about labor unions and management during the 1940s is most accurate ?

Which of the following were NOT related to the price controls that existed during World War II?

In 1940, civilian purchases of goods and services equaled roughly _____ of GDP; by 1943, this figure had changed to ________.

In 1947, which of the following activities were NOT made illegal for labor unions to do?

The GI Bill is often credited for its

If supply is perfectly inelastic and demand increases,

What statement best describes the production and allocation of resources after the United States entered World War II?

What was the least important method of financing World War II?

According to Robert Higgs,

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 Roaring Twenties

The Great Depression

The New Deal

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 1940, civilian purchases of goods and services equaled roughly _ of GDP; by 1943, this figure had changed to ____.