Question 1

What constituted the majority of federal government revenues in 1860?

Accepted Answer

A) Property tax. 
B) Tariffs. 
C) Income tax. 
D) Fees and Licenses. 
A) Property tax. 
B) Tariffs. 
C) Income tax. 
D) Fees and Licenses. B

Question 2

Which is not an advantage of corporations?

Accepted Answer

A) Limited liability 
B) Longevity and permanence 
C) More likely to earn higher profits 
D) Ease of attracting investors 
A) Limited liability 
B) Longevity and permanence 
C) More likely to earn higher profits 
D) Ease of attracting investors C

Question 3

The most important reason for the increasing prominence of the corporation was

Accepted Answer

A) protection from creditors. 
B) that some businesses required more capital than one person or a few people could provide. 
C) the use of "double liability." 
D) None of the above were reasons. 
A) protection from creditors. 
B) that some businesses required more capital than one person or a few people could provide. 
C) the use of "double liability." 
D) None of the above were reasons. C

Question 4

Tariffs comprised approximately what percentage of the federal government revenues between 1790 and 1860?

Accepted Answer

A) 97%. 
B) 55%. 
C) 25%. 
D) 1%. 
A) 97%. 
B) 55%. 
C) 25%. 
D) 1%.

Question 5

What best describes the antebellum economy?

Accepted Answer

A) By 1860 the size of most American firms was comparable to the size of firms today. 
B) Manufacturing had replaced agriculture as the largest sector of employment in the US. 
C) Heavy equipment was one of the top-three manufacturing sectors. 
D) The U.S.developed many new ways of combining factors of production to substitute capital for labor. 
A) By 1860 the size of most American firms was comparable to the size of firms today. 
B) Manufacturing had replaced agriculture as the largest sector of employment in the US. 
C) Heavy equipment was one of the top-three manufacturing sectors. 
D) The U.S.developed many new ways of combining factors of production to substitute capital for labor.

Question 6

From 1800-1860 which part of the nation was most opposed to high tariffs?

Accepted Answer

A) South. 
B) New England. 
C) Middle Atlantic States. 
D) Far Western States. 
A) South. 
B) New England. 
C) Middle Atlantic States. 
D) Far Western States.

Question 7

The first factories in the US were developed within the __________ industry.

Accepted Answer

A) iron smelting 
B) grain milling 
C) boot and shoe 
D) cotton textile 
A) iron smelting 
B) grain milling 
C) boot and shoe 
D) cotton textile

Question 8

The Connecticut General Incorporation act

Accepted Answer

A) was passed in 1797 and allowed private citizens to pursue liability claims against corporations. 
B) provided for the state legislature to grant charters. 
C) expanded the liability for English joint-stock companies. 
D) was passed in 1837 and made incorporation a right. 
E) None of the above are correct. 
A) was passed in 1797 and allowed private citizens to pursue liability claims against corporations. 
B) provided for the state legislature to grant charters. 
C) expanded the liability for English joint-stock companies. 
D) was passed in 1837 and made incorporation a right. 
E) None of the above are correct.

Question 9

Which was not a way in which tariffs hurt the South?

Accepted Answer

A) Southern produced products lost US market share. 
B) The tariffs raised the price of imported goods to consumers. 
C) England had less money with which to purchase American made goods. 
A) Southern produced products lost US market share. 
B) The tariffs raised the price of imported goods to consumers. 
C) England had less money with which to purchase American made goods.

Question 10

Which of the following phrases does not describe an essential characteristic of a factory?

Accepted Answer

A) produces a standardized product to be sold in a wide market 
B) relies on stocks and bonds in order to finance plants and machinery 
C) assemble workers under a definite organizational discipline 
D) carries out complex operations in one building or in adjacent buildings 
A) produces a standardized product to be sold in a wide market 
B) relies on stocks and bonds in order to finance plants and machinery 
C) assemble workers under a definite organizational discipline 
D) carries out complex operations in one building or in adjacent buildings

Question 11

Francis Lowell's Boston Manufacturing Company

Accepted Answer

A) specialized in the production of one type of cloth. 
B) combined all four stages of cloth production in one plant. 
C) sold its product throughout the U.S. 
D) used power looms for weaving. 
E) All of the above. 
A) specialized in the production of one type of cloth. 
B) combined all four stages of cloth production in one plant. 
C) sold its product throughout the U.S. 
D) used power looms for weaving. 
E) All of the above.

Question 12

The primary source of power for industrial production in the antebellum period was

Accepted Answer

A) coal. 
B) steam. 
C) water. 
D) wood. 
A) coal. 
B) steam. 
C) water. 
D) wood.

Question 13

High value-added per employee is associated with

Accepted Answer

A) "high-tech," capital intensive industries. 
B) "low-tech," labor intensive industries. 
C) the shoe industry in 1860. 
D) the use of unskilled labor. 
A) "high-tech," capital intensive industries. 
B) "low-tech," labor intensive industries. 
C) the shoe industry in 1860. 
D) the use of unskilled labor.

Question 14

What two basic ideas led to American preeminence in nineteenth-century manufacturing?

Accepted Answer

A) interchangeable parts and the right of incorporation 
B) continuous-process manufacturing,and the breast water wheel 
C) water frame spinning machines and the use of interchangeable parts 
D) interchangeable parts and continuous-process manufacturing 
A) interchangeable parts and the right of incorporation 
B) continuous-process manufacturing,and the breast water wheel 
C) water frame spinning machines and the use of interchangeable parts 
D) interchangeable parts and continuous-process manufacturing

Question 15

In 1791,what percent of America's clothing was homemade?

Accepted Answer

A) 10-20% 
B) 30-40% 
C) 60-80% 
D) 95% or more was homemade. 
A) 10-20% 
B) 30-40% 
C) 60-80% 
D) 95% or more was homemade.

Question 16

Samuel Slater is most recognized for

Accepted Answer

A) inventing the cotton gin. 
B) inventing the telegraph. 
C) lobbying the government for the abolition of slavery. 
D) playing an integral role in developing the first American factory. 
A) inventing the cotton gin. 
B) inventing the telegraph. 
C) lobbying the government for the abolition of slavery. 
D) playing an integral role in developing the first American factory.

Question 17

According to Robert Zevin's 1971 study of textiles,the U.S.cotton textile industry had ____ percent of the number of Britain's textile labor force,but produced ____ percent as much cotton.

Accepted Answer

A) 80;80 
B) 50;80 
C) 50;40 
D) 25;40 
A) 80;80 
B) 50;80 
C) 50;40 
D) 25;40

Question 18

The antebellum period was characterized by many changes in tariff rates.What best describes the effect of removing a tariff on foreign cotton textiles?

Accepted Answer

A) The total supply curve of textiles would shift back. 
B) The price of both foreign-made and domestic-made textiles would decrease. 
C) The price of foreign-made textiles would decrease and the price of domestic-made textiles would increase. 
D) The total (foreign and domestically produced.quantity of textiles purchased in the US would decrease. 
E) The real income of textile consumers would decrease. 
A) The total supply curve of textiles would shift back. 
B) The price of both foreign-made and domestic-made textiles would decrease. 
C) The price of foreign-made textiles would decrease and the price of domestic-made textiles would increase. 
D) The total (foreign and domestically produced.quantity of textiles purchased in the US would decrease. 
E) The real income of textile consumers would decrease.

Question 19

According to Walton and Rockoff,what is not a pre-condition for factory production and industrialization?

Accepted Answer

A) Standardized parts 
B) Sufficient power and energy 
C) Continuous process production 
D) A sufficiently centralized administrative structure 
A) Standardized parts 
B) Sufficient power and energy 
C) Continuous process production 
D) A sufficiently centralized administrative structure

Question 20

According to the 1860 census,the top employer in manufacturing was the _______ industry.

Accepted Answer

A) boot and shoe 
B) cotton textile 
C) flour and meal 
D) iron 
A) boot and shoe 
B) cotton textile 
C) flour and meal 
D) iron

Exam 10: Market Expansion Industry in First Transition

What constituted the majority of federal government revenues in 1860?

Which is not an advantage of corporations?

The most important reason for the increasing prominence of the corporation was

Tariffs comprised approximately what percentage of the federal government revenues between 1790 and 1860?

What best describes the antebellum economy?

From 1800-1860 which part of the nation was most opposed to high tariffs?

The first factories in the US were developed within the __________ industry.

The Connecticut General Incorporation act

Which was not a way in which tariffs hurt the South?

Which of the following phrases does not describe an essential characteristic of a factory?

Francis Lowell's Boston Manufacturing Company

The primary source of power for industrial production in the antebellum period was

High value-added per employee is associated with

What two basic ideas led to American preeminence in nineteenth-century manufacturing?

In 1791,what percent of America's clothing was homemade?

Samuel Slater is most recognized for

According to Robert Zevin's 1971 study of textiles,the U.S.cotton textile industry had ____ percent of the number of Britain's textile labor force,but produced ____ percent as much cotton.

The antebellum period was characterized by many changes in tariff rates.What best describes the effect of removing a tariff on foreign cotton textiles?

According to Walton and Rockoff,what is not a pre-condition for factory production and industrialization?

According to the 1860 census,the top employer in manufacturing was the _______ industry.

Economic History

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 Western Movements

Transportation and Market Growth

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

According to Robert Zevin's 1971 study of textiles,the U.S.cotton textile industry had percent of the number of Britain's textile labor force,but produced percent as much cotton.