Question 1

The primary reason for the success of the colonial shipbuilding industry was

Accepted Answer

A) the plentiful supply of skilled labor. 
B) low wages in the American shipbuilding industry. 
C) a plentiful supply of iron ore. 
D) the close proximity of raw materials,especially lumber. 
A) the plentiful supply of skilled labor. 
B) low wages in the American shipbuilding industry. 
C) a plentiful supply of iron ore. 
D) the close proximity of raw materials,especially lumber. B

Question 2

Which of the following was not an export of the Southern colonies?

Accepted Answer

A) deerskins 
B) bulk unfinished iron 
C) indigo 
D) rice 
E) All of the above were exports from the Southern colonies. 
A) deerskins 
B) bulk unfinished iron 
C) indigo 
D) rice 
E) All of the above were exports from the Southern colonies. B

Question 3

The wealthiest occupational groups in North America included

Accepted Answer

A) merchants in New England. 
B) merchants in the Middle colonies. 
C) large land-holding planters in the South. 
D) All of the above. 
A) merchants in New England. 
B) merchants in the Middle colonies. 
C) large land-holding planters in the South. 
D) All of the above. D

Question 4

Agricultural staples of the colonial South included

Accepted Answer

A) rice. 
B) tobacco. 
C) indigo. 
D) All of the above. 
A) rice. 
B) tobacco. 
C) indigo. 
D) All of the above.

Question 5

In colonial Georgia,

Accepted Answer

A) communal agriculture was successful. 
B) cotton plantations were flourishing by the early 1700s. 
C) the slave population assisted free colonists in defending the Florida border. 
D) slavery was initially prohibited. 
A) communal agriculture was successful. 
B) cotton plantations were flourishing by the early 1700s. 
C) the slave population assisted free colonists in defending the Florida border. 
D) slavery was initially prohibited.

Question 6

During the colonial period,this region specialized in grain production,primarily using family farms:

Accepted Answer

A) the Middle colonies 
B) the Southern colonies 
C) the New England colonies 
D) Newfoundland 
A) the Middle colonies 
B) the Southern colonies 
C) the New England colonies 
D) Newfoundland

Question 7

The fishing and whaling occupations in the early colonies

Accepted Answer

A) never amounted to a significant economic force. 
B) were a major influence in the early colonial economy. 
C) developed into a significant economic force only in the eighteenth century. 
D) were mixed in their economic impact,with fishing being the least important. 
A) never amounted to a significant economic force. 
B) were a major influence in the early colonial economy. 
C) developed into a significant economic force only in the eighteenth century. 
D) were mixed in their economic impact,with fishing being the least important.

Question 8

Which colony was the last of the original 13 to be founded,and was designed to assist those who owed debts in the Old World?

Accepted Answer

A) Georgia. 
B) Rhode Island. 
C) Florida. 
D) Pennsylvania. 
A) Georgia. 
B) Rhode Island. 
C) Florida. 
D) Pennsylvania.

Question 9

The original reasons for founding the colony of Georgia do not include

Accepted Answer

A) alleviating London of some of its poorer people. 
B) being a partial remedy to the injustice of debtor prisons. 
C) providing a buffer between the English and Spanish colonies. 
D) being a scheme to take advantage of desperate families. 
A) alleviating London of some of its poorer people. 
B) being a partial remedy to the injustice of debtor prisons. 
C) providing a buffer between the English and Spanish colonies. 
D) being a scheme to take advantage of desperate families.

Question 10

What was not true about the economy of the Middle Colonies?

Accepted Answer

A) It was a net importer of food. 
B) The farms were generally smaller than those in the South. 
C) The crops did not have large economies of scale. 
D) Its main agricultural products were grains. 
A) It was a net importer of food. 
B) The farms were generally smaller than those in the South. 
C) The crops did not have large economies of scale. 
D) Its main agricultural products were grains.

Question 11

Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________.

Accepted Answer

A) better;of favorable protections from England 
B) better;of high levels of output per worker. 
C) worse;of unfavorable taxation 
D) worse;of the inaccessibility of both capital and finished machine goods. 
A) better;of favorable protections from England 
B) better;of high levels of output per worker. 
C) worse;of unfavorable taxation 
D) worse;of the inaccessibility of both capital and finished machine goods.

Question 12

If a product exhibits decreasing returns to scale,then the average cost of making the product will ______ as a company produces more of it?

Accepted Answer

A) Increase. 
B) Decrease. 
C) Remain the same. 
D) There is insufficient information provided to ANSWER the question. 
A) Increase. 
B) Decrease. 
C) Remain the same. 
D) There is insufficient information provided to ANSWER the question.

Question 13

If a product exhibits increasing returns to scale,then the average cost of making the product will ______ as a company produces more of it?

Accepted Answer

A) Increase. 
B) Decrease. 
C) Remain the same. 
D) There is insufficient information provided to answer the question. 
A) Increase. 
B) Decrease. 
C) Remain the same. 
D) There is insufficient information provided to answer the question.

Question 14

The only mineral that was available in any significant quantity in colonial America was:

Accepted Answer

A) Gold. 
B) Silver. 
C) Iron. 
D) Coal. 
A) Gold. 
B) Silver. 
C) Iron. 
D) Coal.

Question 15

The colonial production of ________ had a high fixed cost because it required an initial heavy investment in capital.

Accepted Answer

A) tobacco 
B) rice 
C) indigo 
D) cotton 
A) tobacco 
B) rice 
C) indigo 
D) cotton

Question 16

Suppose the only input in agriculture is time and the following chart depicts the time it took for the Middle Colonies and New England to produce barley and milk.Using the principle of comparative advantage,what would be the most efficient solution?
Time Required to Produce:
$\begin{array}{ccc}
\text { Time to produce: } & \begin{array}{c}
\text { New } \
\text { England }
\end{array} & \begin{array}{c}
\text { Middle } \
\text { Colonies }
\end{array} \
\hline 1 \text { ton of barley } & 4 \text { hours } & 5 \text { hours } \
1 \text { ton of milk } & 3 \text { hours } & 6 \text { hours } \
\hline
\end{array}$

Accepted Answer

A) New England produces both barley and milk. 
B) New England produces barley and the Middle Colonies produce milk. 
C) New England produces milk and the Middle Colonies produce barley. 
D) There is insufficient information given to determine comparative advantage. 
A) New England produces both barley and milk. 
B) New England produces barley and the Middle Colonies produce milk. 
C) New England produces milk and the Middle Colonies produce barley. 
D) There is insufficient information given to determine comparative advantage.

Question 17

The soil of the Middle Colonies is generally

Accepted Answer

A) rocky and poor. 
B) fertile and difficult to till. 
C) fertile and easy to till. 
D) alkeline and poorly drained. 
A) rocky and poor. 
B) fertile and difficult to till. 
C) fertile and easy to till. 
D) alkeline and poorly drained.

Question 18

What was the most fundamental relationship among most Native American tribes,including the Iroquois?

Accepted Answer

A) Mother-daughter. 
B) Husband-wife. 
C) Father-son. 
D) Chief-warrior. 
A) Mother-daughter. 
B) Husband-wife. 
C) Father-son. 
D) Chief-warrior.

Question 19

Which was the least prominent crop grown in the colonial US?

Accepted Answer

A) Tobacco. 
B) Sugar. 
C) Wheat. 
D) Rice. 
A) Tobacco. 
B) Sugar. 
C) Wheat. 
D) Rice.

Question 20

Which was a common sociopolitical/economic feature of Colonial America?

Accepted Answer

A) difficulty in the expansion of agriculture 
B) commercial production of finished metal parts,such as sewing needles 
C) legislation that gave favorable terms to the import of machinery from England 
D) significant improvement of infrastructure,especially roads 
E) None of the above is correct. 
A) difficulty in the expansion of agriculture 
B) commercial production of finished metal parts,such as sewing needles 
C) legislation that gave favorable terms to the import of machinery from England 
D) significant improvement of infrastructure,especially roads 
E) None of the above is correct.

Exam 3: Colonial Economic Activities

The primary reason for the success of the colonial shipbuilding industry was

Which of the following was not an export of the Southern colonies?

The wealthiest occupational groups in North America included

Agricultural staples of the colonial South included

In colonial Georgia,

During the colonial period,this region specialized in grain production,primarily using family farms:

The fishing and whaling occupations in the early colonies

Which colony was the last of the original 13 to be founded,and was designed to assist those who owed debts in the Old World?

The original reasons for founding the colony of Georgia do not include

What was not true about the economy of the Middle Colonies?

Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________.

If a product exhibits decreasing returns to scale,then the average cost of making the product will ______ as a company produces more of it?

If a product exhibits increasing returns to scale,then the average cost of making the product will ______ as a company produces more of it?

The only mineral that was available in any significant quantity in colonial America was:

The colonial production of ________ had a high fixed cost because it required an initial heavy investment in capital.

The soil of the Middle Colonies is generally

What was the most fundamental relationship among most Native American tribes,including the Iroquois?

Which was the least prominent crop grown in the colonial US?

Which was a common sociopolitical/economic feature of Colonial America?

Economic History

Founding the Colonies

The Economic Relations of the Colonies

Economic Progress and Wealth

Three Crises and Revolt

Hard Realities for a New Nation

Land and the Early Western Movements

Transportation and Market Growth

Market Expansion 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

Mobilizing for War

The Roaring Twenties

The Great Depression

The New Deal

World War II

The Changing Role of the Federal Government

Government the Business Cycle After World War II

Manufacturing, Productivity, and Labor

Achievements of the Past, Challenges for the Future

Filters

Residents of the developing American colonies lived _ lives compared to people living in the advanced countries of that time because __.