Question 1

The presidents most closely associated with the Great Depression were __________ and ___________.
Herbert Hoover; Franklin
D.Roosevelt

Accepted Answer

Herbert Ho...

Question 2

Which of the following would not be considered a boom period as measured by the percentage growth rate of U.S. output of goods and services?

Accepted Answer

A)  The Roaring 20s
B)  The conversion from a wartime to a peacetime economy following World War II
C)  World War II
D)  The late 1990s

Question 3

Which of the following is true?

Accepted Answer

A)  The Japanese rebuilt their economy after World War II by selling its goods to their own rapidly growing population.
B)  Slow U.S.population growth in the 19th century forced American farmers and manufacturers to seek foreign markets to propel its rapid economic growth.
C)  The Japanese rebuilt their economy after World War II by targeting the large U.S.market, while their own market remained largely closed to U.S.manufactured goods.
D)  America's rapid population growth in the 19th century slowed its economic growth rate.

Question 4

The American economy is ________ economy in the world today.

Accepted Answer

A)  the largest and the fastest growing
B)  neither the largest nor the fastest growing
C)  the largest, but not the fastest growing
D)  the fastest growing, but not the largest

Question 5

Which statement is true?

Accepted Answer

A)  In 1900 most Americans lived on farms.
B)  Our nation's industrial base was largely destroyed by World War I.
C)  John D.Rockefeller controlled the U.S.automobile industry during the first two decades of the 20th century.
D)  Andrew Carnegie was the leading steel producer in the U.S.in 1900.

Question 6

The most accurate appraisal of the American economy early in the 21st century would be that we

Accepted Answer

A)  had the largest economy in the world with no major economic problems.
B)  had the largest economy in the world, but were faced with some major economic problems.
C)  did not have the largest economy in the world, and had no major economic problems.
D)  did not have the largest economy in the world and did face some major economic problems.

Question 7

Which of the following best describes the state of agriculture at the present time?

Accepted Answer

A)  Things have never been better, especially for the small farmer.
B)  The small farmer is selling an increasing percentage of farm output.
C)  American farms are so productive that the U.S.often exports one-third of its corn, wheat and other crops.
D)  There has been a substantial shift of population back to the farms.

Question 8

The greatest expansion of the automobile industry occurred in the decade of the _____.

Accepted Answer

The answer of The greatest expansion of the automobile industry...

Question 9

Each of the following were created under the New Deal EXCEPT

Accepted Answer

A)  Social Security.
B)  the Federal Deposit Insurance Corporation (FDI
C)  .
C)  the Securities and Exchange Commission (SE
C)  .
D)  food stamps.

Question 10

The economic recovery program begun by the Roosevelt Administration to end the Great Depression was known as the ____________________.

Accepted Answer

The answer of The economic recovery program begun by the...

Question 11

The early 1930s was a period of

Accepted Answer

A)  inflation and deflation.
B)  neither inflation nor deflation.
C)  inflation.
D)  deflation.

Question 12

Which statement is true?

Accepted Answer

A)  The United States has a larger national output than any other country in the world.
B)  We have had recessions about every three years since World War II.
C)  There were no recessions while Ronald Reagan was president.
D)  None of the statements are true.

Question 13

During World War II, the federal government instituted ______________ to keep down inflation.

Accepted Answer

price cont...

Question 14

Which of the following statements is true?

Accepted Answer

A)  The average farm has gone from 500 acres in the 19th century to 100 acres today.
B)  The Freedom to Farm Act of 1996 ended government payments to farmers.
C)  Despite hundreds of billions of dollars on farm price-support payments since World War II, the family farm is vanishing.
D)  About 20 million people live on farms today.

Question 15

Basically our high rate of population growth since the time of George Washington's presidency

Accepted Answer

A)  has been a drag on our rate of economic growth.
B)  pushed up our rate of unemployment.
C)  created a growing problem of not enough food to feed everyone.
D)  provided a market for our farmers and manufacturers.

Question 16

Farms with sales of more than $250,000 account for __________ percent of U.S. agricultural sales.

Accepted Answer

The answer of Farms with sales of more than $250,000...

Question 17

The most important factor in reversing the economic decline of 1929-1933 was that

Accepted Answer

A)  the federal government finally balanced its budget.
B)  the stock market began to rise.
C)  people became more optimistic.
D)  the federal government began to spend a huge amount of money.

Question 18

The recession of 1937-38 could be blamed on

Accepted Answer

A)  both the Roosevelt Administration and the Federal Reserve Board.
B)  neither the Roosevelt Administration nor the Federal Reserve Board.
C)  the Roosevelt Administration, but not the Federal Reserve Board.
D)  the Federal Reserve Board, but not the Roosevelt Administration.

Question 19

The name of Andrew Carnegie is most closely associated with

Accepted Answer

A)  the steel industry.
B)  the rubber industry.
C)  the meatpacking industry.
D)  the chemical industry.
E)  the computer industry.

Question 20

Which statement is true?

Accepted Answer

A)  There was brief depression in the early 1920s.
B)  Between 1921 and 1929 national output tripled.
C)  The automobile market was completely saturated by 1921 and sales remained low for the rest of the decade.
D)  None of these statements are true.

Exam 1: A Brief Economic History of the United States

The American economy is ________ economy in the world today.

Correct AnswerverifiedShow Answer

The presidents most closely associated with the Great Depression were __________ and ___________. Herbert Hoover; Franklin D.Roosevelt

Correct AnswerverifiedHerbert Ho...View AnswerShow Answer

Each of the following were created under the New Deal EXCEPT

Correct AnswerverifiedShow Answer

The name of Andrew Carnegie is most closely associated with

Correct AnswerverifiedShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

Which of the following would not be considered a boom period as measured by the percentage growth rate of U.S. output of goods and services?

Correct AnswerverifiedShow Answer

Which of the following best describes the state of agriculture at the present time?

Correct AnswerverifiedShow Answer

The greatest expansion of the automobile industry occurred in the decade of the _____.

Correct AnswerverifiedShow Answer

Farms with sales of more than $250,000 account for __________ percent of U.S. agricultural sales.

Correct AnswerverifiedShow Answer

Which of the following statements is true?

Correct AnswerverifiedShow Answer

The economic recovery program begun by the Roosevelt Administration to end the Great Depression was known as the ____________________.

Correct AnswerverifiedShow Answer

The early 1930s was a period of

Correct AnswerverifiedShow Answer

During World War II, the federal government instituted ______________ to keep down inflation.

Correct Answerverifiedprice cont...View AnswerShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

Which statement is true?

Correct AnswerverifiedShow Answer

Which of the following is true?

Correct AnswerverifiedShow Answer

The most important factor in reversing the economic decline of 1929-1933 was that

Correct AnswerverifiedShow Answer

The recession of 1937-38 could be blamed on

Correct AnswerverifiedShow Answer

Basically our high rate of population growth since the time of George Washington's presidency

Correct AnswerverifiedShow Answer

The most accurate appraisal of the American economy early in the 21st century would be that we

Correct AnswerverifiedShow Answer

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The presidents most closely associated with the Great Depression were and _. Herbert Hoover; Franklin D.Roosevelt

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