Question 1

A decrease in the demand for unskilled and skilled labor was a secondary effect of the productive use of fractional horsepower and internal combustion engines.

Accepted Answer

A) True 
 B)False

Question 2

The decade of the 1920s was characterized by which of the following?

Accepted Answer

A)  Economic advancements in agriculture 
B)  A decrease in the inequality of income and wealth 
C)  Consumers dramatically shifted their household demands into ?purchases of durable goods on credit 
D)  All of the above characterized the decade of the 1920s 
A)  Economic advancements in agriculture 
B)  A decrease in the inequality of income and wealth 
C)  Consumers dramatically shifted their household demands into ?purchases of durable goods on credit 
D)  All of the above characterized the decade of the 1920s

Question 3

The stock market collapse of 1929 might have been averted had large corporations maintained their participation in the market for securities loans in 1925-1929.

Accepted Answer

A) True 
 B)False

Question 4

Even in 1928,non-bank sources provided more funds for brokers' loans in the stock market than did the nation's banks.

Accepted Answer

A) True 
 B)False

Question 5

A federal surplus is deflationary when all else is held constant.

Accepted Answer

A) True 
 B)False

Question 6

The evidence of building costs in the 1920s shows that the decline in total construction after 1926

Accepted Answer

A)  reflected the sharp increase in costs as the boom gathered strength. 
B)  occurred when building costs remained stable. 
C)  occurred in the presence of sharply falling costs that anticipated the 1929 crash. 
D)  was a result of the contractionary monetary policies of the Fed. 
A)  reflected the sharp increase in costs as the boom gathered strength. 
B)  occurred when building costs remained stable. 
C)  occurred in the presence of sharply falling costs that anticipated the 1929 crash. 
D)  was a result of the contractionary monetary policies of the Fed.

Question 7

Regarding the stock market crash of 1929,evidence shows that

Accepted Answer

A)  no one expected trouble in the stock market before the October 1929 crash. 
B)  there was doubt about the speculative heights of stock prices as they continued to ?rise and more money continued to pour into the market. 
C)  only active support by the New York Federal Reserve Bank during the summer and ?fall of 1929 enabled the bull market to last until October. 
D)  investment trusts and nonbanking money sources correctly anticipated the downturn. 
A)  no one expected trouble in the stock market before the October 1929 crash. 
B)  there was doubt about the speculative heights of stock prices as they continued to ?rise and more money continued to pour into the market. 
C)  only active support by the New York Federal Reserve Bank during the summer and ?fall of 1929 enabled the bull market to last until October. 
D)  investment trusts and nonbanking money sources correctly anticipated the downturn.

Question 8

The Capper-Volstead Act of 1922 applied the Sherman Anti-Trust Act to farm cooperatives,preventing them from restricting output and fixing prices.

Accepted Answer

A) True 
 B)False

Question 9

What did the growing inequality of income during the 1920s indicate?

Accepted Answer

A)  That consumption expenditures would tend to weaken even though total income continued to rise 
B)  That spending for goods and business incentives to produce those goods became increasingly dependent on the wealthy 
C)  That the economy became more vulnerable to any shock, such as a stock market crash, that reduced the willingness of the wealthy to buy goods 
D)  All of the above 
A)  That consumption expenditures would tend to weaken even though total income continued to rise 
B)  That spending for goods and business incentives to produce those goods became increasingly dependent on the wealthy 
C)  That the economy became more vulnerable to any shock, such as a stock market crash, that reduced the willingness of the wealthy to buy goods 
D)  All of the above

Question 10

Between the 1921 recession and 1929,the U.S.economy was described as healthy.Which of the following changes in economic indicators is correctly stated and supports this claim?

Accepted Answer

A)  Real Gross Domestic Product (RGDP) increased per capita 
B)  There were increases in real income but they were more ?unequally distributed 
C)  Consumer spending on credit increased dramatically 
D)  There was a decline in total building construction 
A)  Real Gross Domestic Product (RGDP) increased per capita 
B)  There were increases in real income but they were more ?unequally distributed 
C)  Consumer spending on credit increased dramatically 
D)  There was a decline in total building construction

Question 11

During the decade of the 1920s,the distribution of income

Accepted Answer

A)  became increasingly equal. 
B)  changed little or not at all. 
C)  became increasingly unequal. 
D)  may or may not have changed, but it is difficult to know because of lack of data. 
A)  became increasingly equal. 
B)  changed little or not at all. 
C)  became increasingly unequal. 
D)  may or may not have changed, but it is difficult to know because of lack of data.

Exam 23: “Normalcy”: 1919–1929

A decrease in the demand for unskilled and skilled labor was a secondary effect of the productive use of fractional horsepower and internal combustion engines.

The decade of the 1920s was characterized by which of the following?

The stock market collapse of 1929 might have been averted had large corporations maintained their participation in the market for securities loans in 1925-1929.

Even in 1928,non-bank sources provided more funds for brokers' loans in the stock market than did the nation's banks.

A federal surplus is deflationary when all else is held constant.

The evidence of building costs in the 1920s shows that the decline in total construction after 1926

Regarding the stock market crash of 1929,evidence shows that

The Capper-Volstead Act of 1922 applied the Sherman Anti-Trust Act to farm cooperatives,preventing them from restricting output and fixing prices.

What did the growing inequality of income during the 1920s indicate?

Between the 1921 recession and 1929,the U.S.economy was described as healthy.Which of the following changes in economic indicators is correctly stated and supports this claim?

During the decade of the 1920s,the distribution of income

Overseas Empire

Colonial Development

America on the Eve of Revolution

Gaining Independence

Westward Expansion

Population and Labor Force

Law and the Rise of Classical American Capitalism

Transportation, Internal Improvements, and Urbanization

Agricultural Expansion: The Conflict of Two Systems on the Land

The Debate over Slavery

The Early Industrial Sector

The Financial System and the International Economy

Economic Effects of the Civil War

Railroads and Economic Development

Post-Civil War Agriculture

Population Growth and the Atlantic Migration

Industrialization, Entrepreneurship, and Urban Growth

Big Business and Government Intervention

Financial Developments 1863–1914

The Giant Economy and Its International Relations

Labor and the Law

The Command Economy Emerges: World War I

The Great Depression

The New Deal

The “Prosperity” of Wartime

Before the New Frontier: The Postwar Economy

Population, Health, and Labor

Postwar Industry and Agriculture

To the New Millennium and Beyond

Does Our Past Have a Future?

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