Question 1

Identify the forces that placed downward pressures on wages in the South during the post-bellum period.

Accepted Answer

During the post-bellum period, several forces placed downward pressures on wages in the South. These included the availability of cheap labor, particularly from newly freed slaves who were willing to work for lower wages due to limited economic opportunities and discriminatory labor practices. Additionally, the presence of a surplus of agricultural labor and the lack of strong labor unions in the South also contributed to downward pressure on wages. Furthermore, the dominance of agricultural and extractive industries, which were often characterized by low-skilled and low-wage work, further exacerbated the situation. Overall, these factors combined to create an environment where wages in the South were consistently pushed downward during the post-bellum period.

Question 2

The roots of the Civil War (1861-1865)can be traced to the colonial period of U.S.history.The ratification of the 10th amendment of the U.S.Constitution brings all issues connected to the Civil War to an end.

Accepted Answer

A) True 
 B)False  False

Question 3

Engerman's (1971)studies of the Civil War (1861-1865)'s impact on industrialization

Accepted Answer

A)  support the previous work of Hacker and Beard. 
B)  showed that the War sped up the ongoing processes of industrialization. 
C)  showed that the War effort slowed down industrialization. 
D)  restricted the real cost of the War to the South. 
A)  support the previous work of Hacker and Beard. 
B)  showed that the War sped up the ongoing processes of industrialization. 
C)  showed that the War effort slowed down industrialization. 
D)  restricted the real cost of the War to the South. C

Question 4

The absence of the Southern economy's ability to earn foreign exchange and its markets severely impacted all non-local trade in the U.S.after the Civil War.

Accepted Answer

A) True 
 B)False

Question 5

Describe the short- and long-run consequences of the Civil War (1861-1865).

Accepted Answer

The short-run consequences of the Civil

Question 6

Discuss the controversy centering on Ransom and Sutch's (1977)claim that country storekeepers possessed monopoly power.To what do they attribute this monopoly power? How do they back ?their claim? Why do other economic historians disagree?

Accepted Answer

Ransom and Sutch's (1977) claim that cou

Question 7

Economic developments after the Civil War (1861-1865)in the South include all of the following except

Accepted Answer

A)  A decline in cotton prices with the result that poverty associated with cotton became a fixed feature of the South 
B)  The relatively widespread land ownership among the freed slaves 
C)  The widespread adoption of the sharecropping system 
D)  The widespread debt peonage for the freed slaves 
A)  A decline in cotton prices with the result that poverty associated with cotton became a fixed feature of the South 
B)  The relatively widespread land ownership among the freed slaves 
C)  The widespread adoption of the sharecropping system 
D)  The widespread debt peonage for the freed slaves

Question 8

Which of the following methods was NOT used to help the North finance the Civil War ?(1861-1865)?

Accepted Answer

A)  Selling large amounts of bonds 
B)  Issuing fiat Federal paper money 
C)  Raising taxes 
D)  Selling confiscated property 
A)  Selling large amounts of bonds 
B)  Issuing fiat Federal paper money 
C)  Raising taxes 
D)  Selling confiscated property

Question 9

Physical destruction of property during the Civil War (1861-1865)occurred on a wide scale in both the North and the South.

Accepted Answer

A) True 
 B)False

Question 10

According to Hughes and Cain (2011),after the Civil War (1861-1865)the freed slaves were

Accepted Answer

A)  left to fend for themselves without property, money or skills. 
B)  provided with 40 acres and a mule to get a start in life as free people. 
C)  provided with some monetary compensation for the centuries-long oppression ?and exploitation they and their ancestors had faced. 
D)  able to quickly become successful farmers and craftsmen. 
A)  left to fend for themselves without property, money or skills. 
B)  provided with 40 acres and a mule to get a start in life as free people. 
C)  provided with some monetary compensation for the centuries-long oppression ?and exploitation they and their ancestors had faced. 
D)  able to quickly become successful farmers and craftsmen.

Question 11

All of the following methods were used to raise funds to finance the Civil War (1861-1865)except

Accepted Answer

A)  An income tax 
B)  The printing of paper money 
C)  Taxes on prostitution 
D)  Taxes on whiskey and beer 
A)  An income tax 
B)  The printing of paper money 
C)  Taxes on prostitution 
D)  Taxes on whiskey and beer

Question 12

Printing money was the main method the Union government used to finance the Civil War?(1861-1865),and as a result the money supply in the North rose by a factor of 4.

Accepted Answer

A) True 
 B)False

Question 13

Discuss the growth and development of manufacturing in the South after the Civil War (1861-1865).

Accepted Answer

After the Civil War, the South experienc

Question 14

Greenbacks were first issued

Accepted Answer

A)  by the Federal government to help the economy out of a recession in the 1850s. 
B)  by the States to pay for the construction of canals. 
C)  by the Federal government to help pay for the Civil War (1861-1865). 
D)  by banks during the Free Banking Era. 
A)  by the Federal government to help the economy out of a recession in the 1850s. 
B)  by the States to pay for the construction of canals. 
C)  by the Federal government to help pay for the Civil War (1861-1865). 
D)  by banks during the Free Banking Era.

Question 15

The Civil War's (1861-1865)impact on the growth and development of the U.S.economy was negative.

Accepted Answer

A) True 
 B)False

Question 16

As a result of emancipation,

Accepted Answer

A)  black labor force participation increased by 1/3. 
B)  black labor force participation declined by 1/3. 
C)  amazingly, black labor force participation remained essentially unchanged. 
D)  average wages of black workers rose well above those of their immigrant counterparts. 
A)  black labor force participation increased by 1/3. 
B)  black labor force participation declined by 1/3. 
C)  amazingly, black labor force participation remained essentially unchanged. 
D)  average wages of black workers rose well above those of their immigrant counterparts.

Question 17

With regard to the cost of the Civil War (1861-1865),Hughes and Cain (2011)argue all of the following except

Accepted Answer

A)  It mobilized idle men and other resources on a vast scale. 
B)  The cost of the lives lost can be measured using the concept of "human capital." 
C)  The war's cost could have purchased all the slaves from their owners at 1860 prices, given each slave family 40 acres and a mule, and still had $3.5 billion left over for "reparations"-back wages to the freed slaves. 
D)  The real burden was widely felt by those individuals who owned Confederate financial assets, those whose crops and farm animals were sequestered, those whose homes and farm buildings were destroyed, and the dead. 
A)  It mobilized idle men and other resources on a vast scale. 
B)  The cost of the lives lost can be measured using the concept of "human capital." 
C)  The war's cost could have purchased all the slaves from their owners at 1860 prices, given each slave family 40 acres and a mule, and still had $3.5 billion left over for "reparations"-back wages to the freed slaves. 
D)  The real burden was widely felt by those individuals who owned Confederate financial assets, those whose crops and farm animals were sequestered, those whose homes and farm buildings were destroyed, and the dead.

Question 18

Discuss the economic and political impacts of the Civil War (1861-1865)on today's economy.

Accepted Answer

The Civil War had significant economic a

Question 19

With regard to education of freed slaves after the Civil War (1861-1865),

Accepted Answer

A)  there was a rapid rise of literacy. 
B)  Southern public schools were "separate, but equal." 
C)  most had received no education under slavery and were illiterate. 
D)  all of the above are true. 
A)  there was a rapid rise of literacy. 
B)  Southern public schools were "separate, but equal." 
C)  most had received no education under slavery and were illiterate. 
D)  all of the above are true.

Question 20

Since wages fell by more than prices,Civil War laborers were better off.

Accepted Answer

A) True 
 B)False

Exam 13: Economic Effects of the Civil War

Identify the forces that placed downward pressures on wages in the South during the post-bellum period.

The roots of the Civil War (1861-1865)can be traced to the colonial period of U.S.history.The ratification of the 10th amendment of the U.S.Constitution brings all issues connected to the Civil War to an end.

Engerman's (1971)studies of the Civil War (1861-1865)'s impact on industrialization

The absence of the Southern economy's ability to earn foreign exchange and its markets severely impacted all non-local trade in the U.S.after the Civil War.

Describe the short- and long-run consequences of the Civil War (1861-1865).

Discuss the controversy centering on Ransom and Sutch's (1977)claim that country storekeepers possessed monopoly power.To what do they attribute this monopoly power? How do they back ?their claim? Why do other economic historians disagree?

Economic developments after the Civil War (1861-1865)in the South include all of the following except

Which of the following methods was NOT used to help the North finance the Civil War ?(1861-1865)?

Physical destruction of property during the Civil War (1861-1865)occurred on a wide scale in both the North and the South.

According to Hughes and Cain (2011),after the Civil War (1861-1865)the freed slaves were

All of the following methods were used to raise funds to finance the Civil War (1861-1865)except

Printing money was the main method the Union government used to finance the Civil War?(1861-1865),and as a result the money supply in the North rose by a factor of 4.

Discuss the growth and development of manufacturing in the South after the Civil War (1861-1865).

Greenbacks were first issued

The Civil War's (1861-1865)impact on the growth and development of the U.S.economy was negative.

As a result of emancipation,

With regard to the cost of the Civil War (1861-1865),Hughes and Cain (2011)argue all of the following except

Discuss the economic and political impacts of the Civil War (1861-1865)on today's economy.

With regard to education of freed slaves after the Civil War (1861-1865),

Since wages fell by more than prices,Civil War laborers were better off.

Overseas Empire

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America on the Eve of Revolution

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Law and the Rise of Classical American Capitalism

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Agricultural Expansion: The Conflict of Two Systems on the Land

The Debate over Slavery

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