Chapter 01
A Brief Economic History of the United States
Multiple Choice Questions
1. The Social Security Program began during the administration of
A. Franklin D. Roosevelt.
B. Harry S. Truman.
C. Dwight D. Eisenhower.
D. John F. Kennedy.
E. Lyndon B. Johnson.
AACSB: Reflective Thinking Skills
Difficulty: Easy
Learning Objective: 1-3
2. Which statement is true?
A. A depression followed both World War I and World War II.
B. A depression followed neither World War I nor World War II.
C. A depression followed World War I, but not World War II.
D. A depression followed World War II but not World War I.
AACSB: Reflective Thinking Skills
Difficulty: Easy
Learning Objective: 1-2
,3. There was full employment in
A. 1929 and 1942.
B. Neither 1929 nor 1942.
C. 1929.
D. 1942.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-5
,4. During the 19th century, the great abundance of land compared to the availability of labor
A. attracted millions of immigrants.
B. encouraged early marriage and large families.
C. encouraged rapid technological development.
D. all of the choices are true.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-1
5. Which of the following is true?
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.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-2
6. The completion of the American national railroad network in the second half of the 19th
century led to all of the following except
A. that it enabled manufacturers to sell their products all over the country.
B. mass consumption.
C. increased prices of goods sold which led to more investment and more jobs.
D. higher wages.
AACSB: Reflective Thinking Skills
Difficulty: Hard
Learning Objective: 1-1
, 7. Between 1939 and 1944 our national output
A. rose by 50%.
B. nearly doubled.
C. rose by 150%.
D. nearly tripled.
E. quadrupled.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-5
8. The worst recession since World War II started in which year?
A. 1948
B. 1953
C. 1957
D. 1973
E. 1981
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-2
9. Which statement is true about the recession of 1990-91?
A. It was the worst recession we have had since World War II.
B. It was the mildest recession we have had since World War II.
C. Our recovery from it was one of the strongest since World War II.
D. Our recovery from it was one of the weakest since World War II.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-5
A Brief Economic History of the United States
Multiple Choice Questions
1. The Social Security Program began during the administration of
A. Franklin D. Roosevelt.
B. Harry S. Truman.
C. Dwight D. Eisenhower.
D. John F. Kennedy.
E. Lyndon B. Johnson.
AACSB: Reflective Thinking Skills
Difficulty: Easy
Learning Objective: 1-3
2. Which statement is true?
A. A depression followed both World War I and World War II.
B. A depression followed neither World War I nor World War II.
C. A depression followed World War I, but not World War II.
D. A depression followed World War II but not World War I.
AACSB: Reflective Thinking Skills
Difficulty: Easy
Learning Objective: 1-2
,3. There was full employment in
A. 1929 and 1942.
B. Neither 1929 nor 1942.
C. 1929.
D. 1942.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-5
,4. During the 19th century, the great abundance of land compared to the availability of labor
A. attracted millions of immigrants.
B. encouraged early marriage and large families.
C. encouraged rapid technological development.
D. all of the choices are true.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-1
5. Which of the following is true?
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.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-2
6. The completion of the American national railroad network in the second half of the 19th
century led to all of the following except
A. that it enabled manufacturers to sell their products all over the country.
B. mass consumption.
C. increased prices of goods sold which led to more investment and more jobs.
D. higher wages.
AACSB: Reflective Thinking Skills
Difficulty: Hard
Learning Objective: 1-1
, 7. Between 1939 and 1944 our national output
A. rose by 50%.
B. nearly doubled.
C. rose by 150%.
D. nearly tripled.
E. quadrupled.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-5
8. The worst recession since World War II started in which year?
A. 1948
B. 1953
C. 1957
D. 1973
E. 1981
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-2
9. Which statement is true about the recession of 1990-91?
A. It was the worst recession we have had since World War II.
B. It was the mildest recession we have had since World War II.
C. Our recovery from it was one of the strongest since World War II.
D. Our recovery from it was one of the weakest since World War II.
AACSB: Reflective Thinking Skills
Difficulty: Medium
Learning Objective: 1-5
