Question 1

Answer the question: "Who will create the future?" Discuss your role as well as the roles of those individuals who made decisions in the past.

Accepted Answer

The future will be created by a combination of individuals, including myself and those who have made impactful decisions in the past. My role in creating the future involves making decisions and taking actions that contribute to positive change and progress. This could involve advocating for important issues, working towards innovative solutions, and inspiring others to join in creating a better future.

Those individuals who have made decisions in the past have also played a critical role in shaping the future. Whether it be political leaders, business moguls, or influential activists, their decisions and actions have had a lasting impact on the world we live in today. Their legacies continue to influence the trajectory of the future, and it is important to learn from their successes and failures.

Ultimately, the future will be a collaborative effort, with each individual playing a part in shaping the world to come. It is important to recognize the power of our decisions and the impact they can have on future generations. By taking responsibility for our actions and striving for positive change, we can all contribute to creating a brighter future.

Question 2

Why does popular democracy,as defined in the U.S.Constitution,contribute to long-term economic growth and political stability?

Accepted Answer

A)  It allows regular change in the structure of the government. 
B)  It provides incentive to invest, innovate and invent. 
C)  It permits the President of the U.S. to choose fiscal policies to advance ?contemporary mercantilism. 
D)  It transfers wealth from the extremely wealthy to the desperately poor. 
A)  It allows regular change in the structure of the government. 
B)  It provides incentive to invest, innovate and invent. 
C)  It permits the President of the U.S. to choose fiscal policies to advance ?contemporary mercantilism. 
D)  It transfers wealth from the extremely wealthy to the desperately poor. B

Question 3

Which of the following factors have contributed and continue to contribute to long-term economic growth in the U.S.?

Accepted Answer

A)  Individual rights to vote and popular democracy 
B)  Public and private education 
C)  Increased labor productivity, capital accumulation ?and technological change 
D)  All of the above 
A)  Individual rights to vote and popular democracy 
B)  Public and private education 
C)  Increased labor productivity, capital accumulation ?and technological change 
D)  All of the above D

Question 4

The greater the social immobility is within a country,the greater the chance that human talent and skills will not go to waste.

Accepted Answer

A) True 
 B)False

Question 5

Discuss Chandler and Cortada's (2000)claim that the driving force of the U.S.economy has always been information.

Accepted Answer

Chandler and Cortada (2000) argue that t

Question 6

Historically,the U.S.governmental structure and political system

Accepted Answer

A)  changes in the presence of a system of checks and balances as circumstances ?change. 
B)  is a fixed structure and, therefore, provides the stability needed to support ?productive activities. 
C)  guarantees that only the qualified can vote. 
D)  strongly protects the economic interests of capitalists identified as responsible ?for economic growth. 
A)  changes in the presence of a system of checks and balances as circumstances ?change. 
B)  is a fixed structure and, therefore, provides the stability needed to support ?productive activities. 
C)  guarantees that only the qualified can vote. 
D)  strongly protects the economic interests of capitalists identified as responsible ?for economic growth.

Question 7

Even today,individuals distrust the outcome of free markets,as is evidenced by the protests against the construction of Walmarts across the nation.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following threatens the future of the U.S.economy?

Accepted Answer

A)  A strengthening of private property rights 
B)  Effectively preventing some individuals and organizations from pursuing ?noncompetitive market legislation 
C)  Racism, discrimination and sexism 
D)  Increased private consumption and investment and reduced government ?expenditures 
A)  A strengthening of private property rights 
B)  Effectively preventing some individuals and organizations from pursuing ?noncompetitive market legislation 
C)  Racism, discrimination and sexism 
D)  Increased private consumption and investment and reduced government ?expenditures

Question 9

Wal-mart

Accepted Answer

A)  is the railroad of the late nineteenth century. 
B)  provides an example of how one large business enterprise still can ?seize market power to restrict entry and exit. 
C)  holds monopoly power in retail. 
D)  exists at the expense of consumers. 
A)  is the railroad of the late nineteenth century. 
B)  provides an example of how one large business enterprise still can ?seize market power to restrict entry and exit. 
C)  holds monopoly power in retail. 
D)  exists at the expense of consumers.

Question 10

The decisions of today have consequences that lie in the future.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following reduces U.S.potential for economic growth by reducing household incentive to use private property most efficiently and effectively?

Accepted Answer

A)  Personal income taxes 
B)  Farm subsidies and import tariffs 
C)  Auto bailouts 
D)  Regulation in the health care industry 
A)  Personal income taxes 
B)  Farm subsidies and import tariffs 
C)  Auto bailouts 
D)  Regulation in the health care industry

Question 12

The U.S.system of property rights

Accepted Answer

A)  is strictly private. 
B)  is influenced by a mix of private and public forces. 
C)  does not permit governmental seizure of property under any circumstances. 
D)  does not permit the government to seize earned income through taxation. 
A)  is strictly private. 
B)  is influenced by a mix of private and public forces. 
C)  does not permit governmental seizure of property under any circumstances. 
D)  does not permit the government to seize earned income through taxation.

Question 13

Continued U.S.economic growth requires little institutional and technological change.

Accepted Answer

A) True 
 B)False

Question 14

Overall,U.S.citizens and foreign-born residents embrace change that promises overall growth.?This is evidenced by which of the following?

Accepted Answer

A)  Innovation 
B)  The growth of new industries and the demise of others 
C)  Population migration from one part of the U.S. to another 
D)  All of the above 
A)  Innovation 
B)  The growth of new industries and the demise of others 
C)  Population migration from one part of the U.S. to another 
D)  All of the above

Question 15

The power of the contract and the ability to enforce contracts in the U.S.are,in part,responsible for the overall success of the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 16

The following have strengthened individual control over private property: taxation,zoning,land-use restrictions and eminent domain law.

Accepted Answer

A) True 
 B)False

Question 17

Olson (1971)argues that the gains from private competition cannot be exceeded by the gains from collective action.

Accepted Answer

A) True 
 B)False

Question 18

From the economic historian's perspective,discuss the highlights of the evolution of U.S.political institutions.List these highlights and explain their economic underpinnings.

Accepted Answer

The evolution of U.S. political institut

Question 19

The decisions of today have consequences that lie in the future.

Accepted Answer

A) True 
 B)False

Question 20

Historically,the U.S.government has been used to overcome crises,redistribute income and wealth and address negatively received market outcomes.

Accepted Answer

A) True 
 B)False

Exam 31: Does Our Past Have a Future?

Answer the question: "Who will create the future?" Discuss your role as well as the roles of those individuals who made decisions in the past.

Why does popular democracy,as defined in the U.S.Constitution,contribute to long-term economic growth and political stability?

Which of the following factors have contributed and continue to contribute to long-term economic growth in the U.S.?

The greater the social immobility is within a country,the greater the chance that human talent and skills will not go to waste.

Discuss Chandler and Cortada's (2000)claim that the driving force of the U.S.economy has always been information.

Historically,the U.S.governmental structure and political system

Even today,individuals distrust the outcome of free markets,as is evidenced by the protests against the construction of Walmarts across the nation.

Which of the following threatens the future of the U.S.economy?

Wal-mart

The decisions of today have consequences that lie in the future.

Which of the following reduces U.S.potential for economic growth by reducing household incentive to use private property most efficiently and effectively?

The U.S.system of property rights

Continued U.S.economic growth requires little institutional and technological change.

Overall,U.S.citizens and foreign-born residents embrace change that promises overall growth.?This is evidenced by which of the following?

The power of the contract and the ability to enforce contracts in the U.S.are,in part,responsible for the overall success of the U.S.economy.

The following have strengthened individual control over private property: taxation,zoning,land-use restrictions and eminent domain law.

Olson (1971)argues that the gains from private competition cannot be exceeded by the gains from collective action.

From the economic historian's perspective,discuss the highlights of the evolution of U.S.political institutions.List these highlights and explain their economic underpinnings.

The decisions of today have consequences that lie in the future.

Historically,the U.S.government has been used to overcome crises,redistribute income and wealth and address negatively received market outcomes.

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

Normalcy”: 1919–1929

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

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