Question 1

Statement I. The Roaring Twenties began and ended with depressions. Statement II. Although there was a stock market boom in the 1920s, most Americans experienced a declining standard of living during the entire decade.

Accepted Answer

A)  Statement I is true and statement II is false.
B)  Statement II is true and statement I is false.
C)  Both statements are true.
D)  Both statements are false.E) B) and D)
F) B) and C)

Question 2

In the years immediately after the American Revolution

Accepted Answer

A)  both labor and capital were scarce.
B)  neither labor nor capital were scarce.
C)  labor was scarce and capital was plentiful.
D)  capital was scarce and labor was plentiful.E) A) and C)
F) None of the above

Question 3

The worst recession since World War II started in which year?

Accepted Answer

A)  1953
B)  1957
C)  1973
D)  1981
E)  2007F) D) and E)
G) C) and D)

Question 4

Southern agriculture differed markedly from agriculture in the rest of the country before the Civil War in each of these respects EXCEPT

Accepted Answer

A)  it had, on the average, larger farms.
B)  it had slavery.
C)  it had different major crops.
D)  it had more subsistence farming.E) B) and C)
F) C) and D)

Question 5

Which of the following statements is true?

Accepted Answer

A)  There was a great deal of stagflation in the 1930s.
B)  The inflation rate fell during the Eisenhower Administration, but rose during the Reagan years.
C)  Output in the United States fell by about one-third between 1929 and 1933.
D)  The Medicare and Medicaid programs were inaugurated during the New Deal.E) B) and C)
F) A) and D)

Question 6

The federal government facilitated suburbanization by providing _______________ and __________________.

Accepted Answer

low-cost, ...

Question 7

Which is the most accurate statement?

Accepted Answer

A)  In the years after World War II, millions of blacks moved to the suburbs.
B)  No new homes were sold to black families in the Levittowns built in New York, New Jersey, Pennsylvania, and Maryland.
C)  Today most of the communities built by the Levitt family are overwhelmingly black.
D)  Although racial discrimination did take place in housing in the years immediately after World War II, by the early 1960s it was no longer taking place.E) B) and D)
F) B) and C)

Question 8

There was full employment in

Accepted Answer

A)  1929 and 1942.
B)  Neither 1929 nor 1942.
C)  1929.
D)  1942.E) A) and B)
F) All of the above

Question 9

Which statement is true?

Accepted Answer

A)  There was a great deal of stagflation in the 1960s.
B)  We had full employment for most of the 1980s.
C)  We have had twelve recessions since the beginning of 1945.
D)  None of the choices are true.E) B) and D)
F) B) and C)

Question 10

Which statement is true?

Accepted Answer

A)  Few Americans blamed Herbert Hoover for the Great Depression.
B)  The U.S.experienced a brief depression in the early 1920s.
C)  Most American homes were not wired for electricity until the late 1940s.
D)  None of the choices are true.E) A) and D)
F) A) and C)

Question 11

The U.S. population is over _________ million.

Accepted Answer

The answer of The U.S. population is over _________ million....

Question 12

Which statement about the United States at present is false?

Accepted Answer

A)  We have the world's largest economy.
B)  Our federal deficits have been at record highs for the last few years.
C)  The Social Security and Medicare trust funds are safe for at least the next two generations.
D)  In 2005, our savings rate fell below zero.
E)  We are borrowing almost $2 billion a day from foreigners to finance our trade and budget deficits.F) B) and E)
G) A) and C)

Question 13

What got our economy out of the Depression in the early 1940s?

Accepted Answer

A)  The New Deal
B)  A tax cut
C)  Spending on the war
D)  SuburbanizationE) A) and B)
F) A) and C)

Question 14

Under President Eisenhower we had _____ recessions.

Accepted Answer

A)  no
B)  one
C)  two
D)  three
E)  fourF) A) and D)
G) None of the above

Question 15

Our economy was most depressed in

Accepted Answer

A)  1923.
B)  1933.
C)  1943.
D)  1953.
E)  1963.F) C) and D)
G) A) and E)

Question 16

Which statement is the most accurate?

Accepted Answer

A)  There are virtually no Americans who go hungry.
B)  There are a few Americans who go hungry.
C)  There are millions of Americans who go hungry.
D)  About one third of Americans go hungry.E) None of the above
F) C) and D)

Question 17

Which of the following was NOT a time period in which output in the U.S. sharply rose?

Accepted Answer

A)  World War I
B)  The Roaring Twenties
C)  The early 1930s
D)  The 1960s
E)  The late 1990sF) B) and C)
G) A) and B)

Question 18

The Social Security Program began during the administration of

Accepted Answer

A)  Franklin D.Roosevelt.
B)  Harry S.Truman.
C)  Dwight D.Eisenhower
D)  John F.Kennedy.
E)  Lyndon B.Johnson.F) A) and E)
G) A) and B)

Question 19

Each of the following took place in the 1930s EXCEPT

Accepted Answer

A)  the collapse of the entire international financial structure.
B)  a drought that became known as the Dust Bowl wiped out millions of farmers.
C)  all of the nation's banks were closed in the first week of March 1933.
D)  the fulfillment of the promise: "two cars in every garage" and "a chicken in every pot".E) B) and C)
F) A) and C)

Question 20

The heart of the supply-side economic program was to

Accepted Answer

A)  raise taxes.
B)  lower taxes.
C)  raise government spending.
D)  put people to work in government jobs.E) A) and C)
F) None of the above

Exam 1: A Brief Economic History of the United States

Which of the following statements is true?

Correct AnswerverifiedShow Answer

Each of the following took place in the 1930s EXCEPT

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Which statement is true?

Correct AnswerverifiedShow Answer

Our economy was most depressed in

Correct AnswerverifiedShow Answer

Which statement about the United States at present is false?

Correct AnswerverifiedShow Answer

There was full employment in

Correct AnswerverifiedShow Answer

Which is the most accurate statement?

Correct AnswerverifiedShow Answer

Statement I. The Roaring Twenties began and ended with depressions. Statement II. Although there was a stock market boom in the 1920s, most Americans experienced a declining standard of living during the entire decade.

Correct AnswerverifiedShow Answer

Which statement is the most accurate?

Correct AnswerverifiedShow Answer

Southern agriculture differed markedly from agriculture in the rest of the country before the Civil War in each of these respects EXCEPT

Correct AnswerverifiedShow Answer

The federal government facilitated suburbanization by providing _______________ and __________________.

Correct Answerverifiedlow-cost, ...View AnswerShow Answer

Under President Eisenhower we had _____ recessions.

Correct AnswerverifiedShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

The U.S. population is over _________ million.

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The worst recession since World War II started in which year?

Correct AnswerverifiedShow Answer

In the years immediately after the American Revolution

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What got our economy out of the Depression in the early 1940s?

Correct AnswerverifiedShow Answer

Which of the following was NOT a time period in which output in the U.S. sharply rose?

Correct AnswerverifiedShow Answer

The Social Security Program began during the administration of

Correct AnswerverifiedShow Answer

The heart of the supply-side economic program was to

Correct AnswerverifiedShow Answer

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The federal government facilitated suburbanization by providing _ and ____.

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low-cost, ...
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