Question 1

Discuss the movement during this period of U.S.history to regulated banking through the public sector and through the private sector.

Accepted Answer

During the period of U.S. history, there

Question 2

During the antebellum period,most international payments were made by

Accepted Answer

A)  shipping specie. 
B)  bills of exchange. 
C)  credit extended by private banks in the U.S. 
D)  all of the above. 
A)  shipping specie. 
B)  bills of exchange. 
C)  credit extended by private banks in the U.S. 
D)  all of the above.

Question 3

The financial chaos of the antebellum period clearly impeded economic growth and development?in the long run.

Accepted Answer

A) True 
 B)False

Question 4

As cities grew and markets developed,life,fire and death insurance companies emerged to manage risks and help groups of individuals during disasters.

Accepted Answer

A) True 
 B)False

Question 5

Discuss the arguments made in the United States for and against having a national bank,and identify the functions of U.S.central banks for the period of 1790 to 1860.

Accepted Answer

The arguments for and against having a n

Question 6

High differentials in interest rates suggest that the financial markets of New England,the Middle Atlantic and the South were not integrated with those of New York City.

Accepted Answer

A) True 
 B)False

Question 7

Under the new Constitution in 1789,the states gained the sovereign power to

Accepted Answer

A)  levy taxes. 
B)  power and issue money. 
C)  "regulate" the value of money. 
D)  create corporations by special franchise. 
A)  levy taxes. 
B)  power and issue money. 
C)  "regulate" the value of money. 
D)  create corporations by special franchise.

Question 8

Monopolist fears that central banks would unfairly compete with all other profit-maximizing banks contributed to the demise of the First and Second Banks of the U.S.

Accepted Answer

A) True 
 B)False

Question 9

State banks failed to find a way to print money under the Constitution.

Accepted Answer

A) True 
 B)False

Question 10

Between 1790 and 1860,wholesale prices charged by producers of commodities

Accepted Answer

A)  grew steadily over the period. 
B)  declined steadily. 
C)  exhibited wild variations but increased, on average. 
D)  exhibited wild variations but declined, on average. 
A)  grew steadily over the period. 
B)  declined steadily. 
C)  exhibited wild variations but increased, on average. 
D)  exhibited wild variations but declined, on average.

Question 11

The struggles and controversies over federal and state powers led to the demise of both the First and Second Bank of the United States.

Accepted Answer

A) True 
 B)False

Question 12

Unlike the Federal Reserve Bank of today,the First and Second Banks

Accepted Answer

A)  could create corporations by special franchise. 
B)  were generally supported by the rest of the banking community. 
C)  were direct competitors with private business. 
D)  provided a federal safety fund in times of well banking crisis. 
A)  could create corporations by special franchise. 
B)  were generally supported by the rest of the banking community. 
C)  were direct competitors with private business. 
D)  provided a federal safety fund in times of well banking crisis.

Question 13

During the international crises of 1837 and 1857,

Accepted Answer

A)  the U.S. and England were connected financially. 
B)  the British were pursuing heavy internal improvements. 
C)  the U.S. was in the midst of heavy industrial expansion. 
D)  all of the above were true. 
A)  the U.S. and England were connected financially. 
B)  the British were pursuing heavy internal improvements. 
C)  the U.S. was in the midst of heavy industrial expansion. 
D)  all of the above were true.

Question 14

Describe the key changes in the financial system of the antebellum economy.

Accepted Answer

In the American history, the period befo

Question 15

Define the business cycle.Describe the impact of U.S.economic expansions and contractions on national output,income,prices,interest rates,exports,imports and balance of trade during the pre-Civil War years.

Accepted Answer

The business cycle refers to the fluctua

Question 16

An economy that grows in world interdependence experiences

Accepted Answer

A)  growing trade on the basis of comparative advantage. 
B)  more vulnerability to the business cycles of trading partners. 
C)  wealth accumulation. 
D)  all of the above. 
A)  growing trade on the basis of comparative advantage. 
B)  more vulnerability to the business cycles of trading partners. 
C)  wealth accumulation. 
D)  all of the above.

Question 17

Business cycles are best categorized as

Accepted Answer

A)  fluctuations in the production and employment levels in the business sector of the economy. 
B)  major upswings and downturns in most sectors of the economy. 
C)  variations in international trade. 
D)  all of the above. 
A)  fluctuations in the production and employment levels in the business sector of the economy. 
B)  major upswings and downturns in most sectors of the economy. 
C)  variations in international trade. 
D)  all of the above.

Question 18

Which/who of the following was NOT an opponent to rechartering either the First or the Second Banks of the United States?

Accepted Answer

A)  Andrew Jackson 
B)  Private banks 
C)  Nicholas Biddle 
D)  Rural interests 
A)  Andrew Jackson 
B)  Private banks 
C)  Nicholas Biddle 
D)  Rural interests

Question 19

Under the U.S.Constitution,each state gave up its right to issue money,borrow,levy taxes and regulate the value of money on behalf of national efforts.

Accepted Answer

A) True 
 B)False

Question 20

Define the gold standard and identify its economic roles.

Accepted Answer

The gold standard is a monetary system i

Exam 12: The Financial System and the International Economy

Discuss the movement during this period of U.S.history to regulated banking through the public sector and through the private sector.

During the antebellum period,most international payments were made by

The financial chaos of the antebellum period clearly impeded economic growth and development?in the long run.

As cities grew and markets developed,life,fire and death insurance companies emerged to manage risks and help groups of individuals during disasters.

Discuss the arguments made in the United States for and against having a national bank,and identify the functions of U.S.central banks for the period of 1790 to 1860.

High differentials in interest rates suggest that the financial markets of New England,the Middle Atlantic and the South were not integrated with those of New York City.

Under the new Constitution in 1789,the states gained the sovereign power to

Monopolist fears that central banks would unfairly compete with all other profit-maximizing banks contributed to the demise of the First and Second Banks of the U.S.

State banks failed to find a way to print money under the Constitution.

Between 1790 and 1860,wholesale prices charged by producers of commodities

The struggles and controversies over federal and state powers led to the demise of both the First and Second Bank of the United States.

Unlike the Federal Reserve Bank of today,the First and Second Banks

During the international crises of 1837 and 1857,

Describe the key changes in the financial system of the antebellum economy.

Define the business cycle.Describe the impact of U.S.economic expansions and contractions on national output,income,prices,interest rates,exports,imports and balance of trade during the pre-Civil War years.

An economy that grows in world interdependence experiences

Business cycles are best categorized as

Which/who of the following was NOT an opponent to rechartering either the First or the Second Banks of the United States?

Under the U.S.Constitution,each state gave up its right to issue money,borrow,levy taxes and regulate the value of money on behalf of national efforts.

Define the gold standard and identify its economic roles.

Overseas Empire

Colonial Development

America on the Eve of Revolution

Gaining Independence

Westward Expansion

Population and Labor Force

Law and the Rise of Classical American Capitalism

Transportation, Internal Improvements, and Urbanization

Agricultural Expansion: The Conflict of Two Systems on the Land

The Debate over Slavery

The Early Industrial Sector

Economic Effects of the Civil War

Railroads and Economic Development

Post-Civil War Agriculture

Population Growth and the Atlantic Migration

Industrialization, Entrepreneurship, and Urban Growth

Big Business and Government Intervention

Financial Developments 1863–1914

The Giant Economy and Its International Relations

Labor and the Law

The Command Economy Emerges: World War I

Normalcy”: 1919–1929

The Great Depression

The New Deal

The “Prosperity” of Wartime

Before the New Frontier: The Postwar Economy

Population, Health, and Labor

Postwar Industry and Agriculture

To the New Millennium and Beyond

Does Our Past Have a Future?

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