Question 1

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. C

Question 2

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 A

Question 3

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. A

Question 4

Which of the following statements correctly characterizes the distribution of colonial wealth?

Accepted Answer

A) Colonial wealth was distributed equally across the population. 
B) While the distribution wealth was highly concentrated in the South,New England and the 
C) Middle colonies had very equal wealth distributions. 
D) Wealth inequality tended to be greatest in colonial cities. 
E) A permanent underclass of free poor people developed during the colonial period. 
A) Colonial wealth was distributed equally across the population. 
B) While the distribution wealth was highly concentrated in the South,New England and the 
C) Middle colonies had very equal wealth distributions. 
D) Wealth inequality tended to be greatest in colonial cities. 
E) A permanent underclass of free poor people developed during the colonial period.

Question 5

According to a 1964 speech by George R.Taylor,the economic growth rate in the colonies

Accepted Answer

A) was essentially zero for most of the 18ᵗʰ century. 
B) was large enough to allow for a doubling of incomes every decade. 
C) implies that income almost doubled between 1710 and 1775. 
D) can never be accurately estimated due to insufficient data. 
A) was essentially zero for most of the 18ᵗʰ century. 
B) was large enough to allow for a doubling of incomes every decade. 
C) implies that income almost doubled between 1710 and 1775. 
D) can never be accurately estimated due to insufficient data.

Question 6

If the incomes of New Englanders increased and they demanded more tobacco,then tobacco would be:

Accepted Answer

A) a normal good. 
B) an inferior good. 
C) a substitute good. 
D) a complementary good. 
A) a normal good. 
B) an inferior good. 
C) a substitute good. 
D) a complementary good.

Question 7

The standard of living (measured by what one can purchase with after-tax income)of free Americans on the eve of the Revolution was ______.

Accepted Answer

A) lower than in 18ᵗʰ century England,and lower than for most people in the "Third World" today. 
B) higher than in 18ᵗʰ -century England,and higher than for most people in the "Third World" today. 
C) lower than in 18ᵗʰ century England,but higher than for most people in the "Third World" today. 
D) higher than in 18ᵗʰ century England,but lower than for most people in the "Third World" today. 
A) lower than in 18ᵗʰ century England,and lower than for most people in the "Third World" today. 
B) higher than in 18ᵗʰ -century England,and higher than for most people in the "Third World" today. 
C) lower than in 18ᵗʰ century England,but higher than for most people in the "Third World" today. 
D) higher than in 18ᵗʰ century England,but lower than for most people in the "Third World" today.

Question 8

The primary source of colonial productivity growth in agriculture was

Accepted Answer

A) learning by doing. 
B) an increased capital-labor ratio. 
C) technology improvements. 
D) the introduction of hybrid seeds and fertilizer. 
A) learning by doing. 
B) an increased capital-labor ratio. 
C) technology improvements. 
D) the introduction of hybrid seeds and fertilizer.

Question 9

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 10

Today _________ countries generate average income levels that approach the earnings of free Americans on the eve of the revolution.

Accepted Answer

A) almost no 
B) relatively few 
C) many 
D) most 
A) almost no 
B) relatively few 
C) many 
D) most

Question 11

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

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 12

According to data on Pennsylvania agriculture in the 18ᵗʰ century,increases in productivity were primarily due to

Accepted Answer

A) increases in average farm size. 
B) increases in the amount of labor per farm. 
C) increased mechanization. 
D) increases in the capital-labor ratio. 
A) increases in average farm size. 
B) increases in the amount of labor per farm. 
C) increased mechanization. 
D) increases in the capital-labor ratio.

Question 13

Tobacco prices fell dramatically in the early 1600s in spite of demand increases because

Accepted Answer

A) supply was also increasing. 
B) supply was decreasing. 
C) new farming machinery was introduced. 
D) the colonial government provided agriculture subsidies for tobacco farmers. 
A) supply was also increasing. 
B) supply was decreasing. 
C) new farming machinery was introduced. 
D) the colonial government provided agriculture subsidies for tobacco farmers.

Question 14

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 15

During the 100 years before the Revolutionary war,shipping costs were reduced by nearly

Accepted Answer

A) 10 percent. 
B) 25 percent. 
C) 50 percent. 
D) 70 percent. 
E) Shipping costs increased during that period. 
A) 10 percent. 
B) 25 percent. 
C) 50 percent. 
D) 70 percent. 
E) Shipping costs increased during that period.

Question 16

Which of the following provides an important source for data on colonial wealth?

Accepted Answer

A) census records 
B) newspapers 
C) records of charitable contributions 
D) probate records 
A) census records 
B) newspapers 
C) records of charitable contributions 
D) probate records

Question 17

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 18

Compared with the 19th century,during the colonial period technological changes that raised output relative to inputs

Accepted Answer

A) were slow and steady. 
B) increased in the early part of the period,but fell off dramatically after 1643. 
C) remained minor and sporadic. 
D) increased dramatically after 1643. 
A) were slow and steady. 
B) increased in the early part of the period,but fell off dramatically after 1643. 
C) remained minor and sporadic. 
D) increased dramatically after 1643.

Question 19

The colonists' per capita income on the eve of the Revolution was most comparable to the per capita income of:

Accepted Answer

A) China. 
B) England. 
C) Western Europe. 
D) Western Africa. 
A) China. 
B) England. 
C) Western Europe. 
D) Western Africa.

Question 20

Based on the analysis of Alice Hanson Jones,what colonial region showed the most unequal distribution of wealth?

Accepted Answer

A) New England. 
B) Middle Colonies. 
C) South. 
A) New England. 
B) Middle Colonies. 
C) South.

Exam 5: Economic Progress and Wealth

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

The largest productivity gains in colonial shipping were from

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

Which of the following statements correctly characterizes the distribution of colonial wealth?

According to a 1964 speech by George R.Taylor,the economic growth rate in the colonies

If the incomes of New Englanders increased and they demanded more tobacco,then tobacco would be:

The standard of living (measured by what one can purchase with after-tax income)of free Americans on the eve of the Revolution was ______.

The primary source of colonial productivity growth in agriculture was

From 1680 to 1770 average ship speeds

Today _________ countries generate average income levels that approach the earnings of free Americans on the eve of the revolution.

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

According to data on Pennsylvania agriculture in the 18ᵗʰ century,increases in productivity were primarily due to

Tobacco prices fell dramatically in the early 1600s in spite of demand increases because

What statement best describes the colonial economic experience?

During the 100 years before the Revolutionary war,shipping costs were reduced by nearly

Which of the following provides an important source for data on colonial wealth?

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

Compared with the 19th century,during the colonial period technological changes that raised output relative to inputs

The colonists' per capita income on the eve of the Revolution was most comparable to the per capita income of:

Based on the analysis of Alice Hanson Jones,what colonial region showed the most unequal distribution of wealth?

Economic History

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 Western Movements

Transportation and Market Growth

Market Expansion 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

Mobilizing for War

The Roaring Twenties

The Great Depression

The New Deal

World War II

The Changing Role of the Federal Government

Government the Business Cycle After World War II

Manufacturing, Productivity, and Labor

Achievements of the Past, Challenges for the Future

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