Question 1

Increases in productivity due to changes in technological capacity could be best represented by a:

Accepted Answer

A)  Shift out in the demand curve. 
B)  Shift out in the supply curve. 
C)  Shift out in both the demand and supply curves. 
D)  Shift back in the supply curve. 
A)  Shift out in the demand curve. 
B)  Shift out in the supply curve. 
C)  Shift out in both the demand and supply curves. 
D)  Shift back in the supply curve.

Question 2

Low-cost flyboats offered an attractive alternative to heavier, more costly ships; however, their use was limited in many areas due to

Accepted Answer

A)  privateering and piracy. 
B)  colonial laws that specified minimum crew sizes for many voyages. 
C)  the Navigation Acts. 
D)  the inability of New England shipbuilders to manufacture flyboats. 
A)  privateering and piracy. 
B)  colonial laws that specified minimum crew sizes for many voyages. 
C)  the Navigation Acts. 
D)  the inability of New England shipbuilders to manufacture flyboats.

Question 3

In the early decades of the 18th century, English goods sold for as much as 80 to 140 percent more in the colonies than in England primarily due to

Accepted Answer

A)  high tariffs on English goods imported to the colonies. 
B)  a limited supply of English goods available for shipment to the colonies. 
C)  high transportation costs for goods shipped from England to the colonies. 
D)  legally established price floors on English goods sold in the colonies. 
A)  high tariffs on English goods imported to the colonies. 
B)  a limited supply of English goods available for shipment to the colonies. 
C)  high transportation costs for goods shipped from England to the colonies. 
D)  legally established price floors on English goods sold in the colonies.

Question 4

According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the output per farm ______________.

Accepted Answer

A)  increased; decreased 
B)  decreased; increased 
C)  decreased; remained fairly stable 
D)  remained fairly stable; increased 
A)  increased; decreased 
B)  decreased; increased 
C)  decreased; remained fairly stable 
D)  remained fairly stable; increased

Question 5

According to the text, in the century prior to the Revolution ____________ were a "strategic factor in the overall economic advance of the colonies."

Accepted Answer

A)  advances in technology 
B)  advances in manufacturing 
C)  advances in farm equipment 
D)  advances in shipping 
A)  advances in technology 
B)  advances in manufacturing 
C)  advances in farm equipment 
D)  advances in shipping

Question 6

The largest productivity gains in colonial shipping were from

Accepted Answer

A)  decreased layover times in ports. 
B)  lower costs associated with the increase in size of the vessels. 
C)  the increased speed of the ships. 
D)  the use of larger ships 
A)  decreased layover times in ports. 
B)  lower costs associated with the increase in size of the vessels. 
C)  the increased speed of the ships. 
D)  the use of larger ships

Question 7

In the 1770s the quality of life in the colonies

Accepted Answer

A)  was better than the quality of life in developing countries today. 
B)  was significantly lower than the quality of life in England during the same period. 
C)  is impossible to determine due to inaccurate and incomplete data. 
D)  was declining. 
A)  was better than the quality of life in developing countries today. 
B)  was significantly lower than the quality of life in England during the same period. 
C)  is impossible to determine due to inaccurate and incomplete data. 
D)  was declining.

Question 8

Why is it so difficult to systematically portray economic growth in the colonies?

Accepted Answer

A)  American colonists kept no records. 
B)  American colonists were exclusively subsistence farmers. 
C)  War and other frontier disturbances were frequent. 
D)  The relevant historical data was largely destroyed during the Civil War.. 
A)  American colonists kept no records. 
B)  American colonists were exclusively subsistence farmers. 
C)  War and other frontier disturbances were frequent. 
D)  The relevant historical data was largely destroyed during the Civil War..

Question 9

On the eve of the Revolution, the quality of life in the colonies

Accepted Answer

A)  was comparable to that of third-world countries today. 
B)  compared favorably with that of other countries during the same period. 
C)  had reached a level that would not be achieved again until the late 19th century. 
D)  was declining. 
A)  was comparable to that of third-world countries today. 
B)  compared favorably with that of other countries during the same period. 
C)  had reached a level that would not be achieved again until the late 19th century. 
D)  was declining.

Question 10

During the colonial period, the U.S. and other countries relied on "privateers." Which of the following most accurately describes privateers?

Accepted Answer

A)  Privateers were also known as pirates. 
B)  Privateers were private citizens who owned ships that attacked vessels from other nations. 
C)  Privateers were groups of convicts who stole from American sailing vessels. 
D)  Privateers were a formal group part of the American Navy. 
A)  Privateers were also known as pirates. 
B)  Privateers were private citizens who owned ships that attacked vessels from other nations. 
C)  Privateers were groups of convicts who stole from American sailing vessels. 
D)  Privateers were a formal group part of the American Navy.

Question 11

What statement best describes the colonial economic experience?

Accepted Answer

A)  The agricultural sector was initially a small portion of the economy, but quickly grew to be the largest sector. 
B)  By the time of the American Revolution, the U.S. colonial economy was larger than about 70 percent of other nation's economies. 
C)  The U.S. colonial economy was particularly hurt during the Seven Year's War. 
D)  Economic growth was irregular and averaged about 0.45% per year. 
A)  The agricultural sector was initially a small portion of the economy, but quickly grew to be the largest sector. 
B)  By the time of the American Revolution, the U.S. colonial economy was larger than about 70 percent of other nation's economies. 
C)  The U.S. colonial economy was particularly hurt during the Seven Year's War. 
D)  Economic growth was irregular and averaged about 0.45% per year.

Question 12

Eighteenth century declines in Atlantic and Caribbean shipping costs were due to

Accepted Answer

A)  the reduction in armaments on commercial vessels. 
B)  decreased crew sizes. 
C)  falling insurance rates. 
D)  reduced layover times in ports. 
E)  All of the above. 
A)  the reduction in armaments on commercial vessels. 
B)  decreased crew sizes. 
C)  falling insurance rates. 
D)  reduced layover times in ports. 
E)  All of the above.

Question 13

From 1680 to 1770 average ship speeds

Accepted Answer

A)  increased by 10 percent 
B)  increased by 20 percent 
C)  increased by 30 percent 
D)  decreased by 5 percent 
E)  did not change appreciably. 
A)  increased by 10 percent 
B)  increased by 20 percent 
C)  increased by 30 percent 
D)  decreased by 5 percent 
E)  did not change appreciably.

Question 14

The proliferation of the horse in the 17th century caused Great Plains Indians to

Accepted Answer

A)  increase their reliance on agricultural work. 
B)  engage in less tribal warfare. 
C)  use smaller and more independent hunting groups. 
D)  kill fewer bison, but make more intensive use of the meat on the carcass. 
A)  increase their reliance on agricultural work. 
B)  engage in less tribal warfare. 
C)  use smaller and more independent hunting groups. 
D)  kill fewer bison, but make more intensive use of the meat on the carcass.

Question 15

According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the number of cleared acres per farm ______________.

Accepted Answer

A)  increased; decreased 
B)  decreased; increased 
C)  decreased; remained fairly stable 
D)  remained fairly stable; increased 
A)  increased; decreased 
B)  decreased; increased 
C)  decreased; remained fairly stable 
D)  remained fairly stable; increased

Question 16

What was the most immediate impact of introducing the horse to the plains Indians?

Accepted Answer

A)  A decrease in the amount of agricultural work the Indians did. 
B)  A large increase in the size of hunting groups. 
C)  More intensive and more efficient use of animal carcasses. 
D)  More time was spent in fixed locations. 
A)  A decrease in the amount of agricultural work the Indians did. 
B)  A large increase in the size of hunting groups. 
C)  More intensive and more efficient use of animal carcasses. 
D)  More time was spent in fixed locations.

Question 17

According to the Rule of 70 (according to which per capita income doubles every 70 years at a growth rate of 1 percent p.a.0, if per capita GDP is growing at a rate of 5 percent per year, then it will take __________ years for per capita income to double.

Accepted Answer

A)  14 
B)  28 
C)  70 
D)  140 
A)  14 
B)  28 
C)  70 
D)  140

Exam 5: Economic Progress and Wealth

Increases in productivity due to changes in technological capacity could be best represented by a:

Low-cost flyboats offered an attractive alternative to heavier, more costly ships; however, their use was limited in many areas due to

In the early decades of the 18th century, English goods sold for as much as 80 to 140 percent more in the colonies than in England primarily due to

According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the output per farm ______________.

According to the text, in the century prior to the Revolution ____________ were a "strategic factor in the overall economic advance of the colonies."

The largest productivity gains in colonial shipping were from

In the 1770s the quality of life in the colonies

Why is it so difficult to systematically portray economic growth in the colonies?

On the eve of the Revolution, the quality of life in the colonies

During the colonial period, the U.S. and other countries relied on "privateers." Which of the following most accurately describes privateers?

What statement best describes the colonial economic experience?

Eighteenth century declines in Atlantic and Caribbean shipping costs were due to

From 1680 to 1770 average ship speeds

The proliferation of the horse in the 17th century caused Great Plains Indians to

According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the number of cleared acres per farm ______________.

What was the most immediate impact of introducing the horse to the plains Indians?

According to the Rule of 70 (according to which per capita income doubles every 70 years at a growth rate of 1 percent p.a.0, if per capita GDP is growing at a rate of 5 percent per year, then it will take __________ years for per capita income to double.

Growth, Welfare, and the American Economy

Founding the Colonies

Colonial Economic Activities

The Economic Relations of the Colonies

Three Crises and Revolt

Hard Realities for a New Nation

Land and the Early Westward Movements

Transportation and Market Growth

Market Expansion and Industry in First Transition

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

World War I, 1914-1918

The Roaring Twenties

The Great Depression

The New Deal

World War Ii

The Changing Role of the Federal Government

The Changing Role of the Federal Government: Consumer Safety, Agriculture, the Environment, and Housing

Monetary Policy, Fiscal Policy, and the Business Cycle After World War Ii

Manufacturing, Productivity, and Labor

Achievements of the Past, Challenges for the Future

Filters

In the early decades of the 18^th century, English goods sold for as much as 80 to 140 percent more in the colonies than in England primarily due to

According to data on Pennsylvania agriculture in the 18^th century, the average size of a farm _, while the output per farm ______.

According to data on Pennsylvania agriculture in the 18^th century, the average size of a farm _, while the number of cleared acres per farm ______.