econ

What changes occurred as a result of the New Deal? Check all that apply. 1. banking regulations 2. financial equality 3. improved infrastructure 4. poverty relief 5. health care for everyone

1, 3, 4 (idk)

What moderate reforms did European socialists support? Check all that apply. 1. assistance for the poor 2. working class revolution 3. better working conditions 4. lack of protections for unions 5. minimum wage laws 6. lack of regulation for prices

1, 3, 5

What rights did the National Labor Relations Act (NLRA) grant workers? Check all that apply. 1. the right to bargain as a group 2. the right to have health insurance 3. the right to form unions 4. the right to have vacation time 5. the right to go on strike

1, 3, 5 (idk)

Why did President Roosevelt declare a bank holiday after taking office? Check all that apply. 1. to enable inspections of bank finances 2. to allow banks to restructure their organizations 3. to prevent depositors from taking their money 4. to increase public confidence in the banks 5. to prevent money from leaving the country

1, 4 (idk)

Which groups are eligible to receive aid from Social Security? Check all that apply. 1. college students 2. older people 3. people with disabilities 4. single parents 5. unemployed workers

2, 3 (idk)

How did consumers weaken the economy in the late 1920s? a) Consumers only bought a limited number of products. b) Consumers bought too many goods they could not afford. c) Consumers refused to pay high prices for goods. d) Consumers increased their spending and used only cash.

NOT a

According to Karl Marx, the economic ideas behind socialism would lead to a a) communist revolution. b) socialist revolution. c) capitalist revolution. d) utopian revolution.

a

Adam Smith believed that fair prices for goods are determined in a capitalist system a) through competition between businesses. b) by government regulation of businesses. c) by setting limits on imports and exports. d) through competition between consumers.

a

In a free market, supply and demand determines a) the type and number of goods produced. b) the number and distribution of goods produced. c) the raw materials and tools used to produce goods. d) the factories and machines used to produce goods.

a

In the 1920s, the danger of buying stock on margin was that if the value of the stock dropped, borrowers a) had to make up the difference. b) lost ownership of the stock. c) could no longer speculate on stock. d) could no longer get credit.

a

Industrialization resulted in what changes to American society? a. economic growth and increased urbanization b. immigration and an increase in workers' benefits c. the growth of public education and urbanization d. increased opportunities for skilled workers and women's equality

a

Republicans argued that New Deal reforms made it difficult for A) companies to operate their businesses. B) national infrastructure to be developed. c) the country to prepare for war. d) Americans to find jobs.

a

The building of a railroad network led to industrial growth because a. raw materials and finished products were shipped quickly and cheaply. b. finished products were shipped quickly to rural Canada. c. finished products were shipped quickly and cheaply to factories. c. raw materials were shipped quickly and cheaply to consumers.

a

The development of a system of mass production in manufacturing meant that a. machines rapidly produced large amounts of products. b. products were handmade. c. products were made in foreign countries. d. individuals slowly made small amounts of products.

a

The main reason people moved to cities during the Gilded Age was a. to get jobs in factories and corporate headquarters. b. to enable their children to attend universities there. c. to discover and create new technologies. d. to enjoy different cultural events.

a

This excerpt is from The Wealth of Nations by Adam Smith. "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest." Which statement best explains Smith's point? a) Businesses acting in their own interests expect something in return for their services. b) Businesses acting in their own interests give away goods in hopes that consumers will return. c) Businesses such as butchers, brewers, and bakers are kind hearted and help feed people dinner. d) Businesses give away their products but want money for the services they provide.

a

This graph shows the gross domestic product (GDP) manufactured in the United States from 1800 to 1900. mc007-1.jpg According to the graph, the manufacturing of products in the United States a. greatly increased from 1800 to 1900. b. greatly decreased from the onset of the Civil War to 1900. c. slowly decreased in 1800 and again in 1900. d. slowly increased after 1880.

a

What is consumerism? a) a pattern of wanting and buying new products b) a pattern of saving most of one's money c) a pattern of raising prices on store-bought goods d) a pattern of lowering prices on farm-produced goods

a

Which statement best explains how manufacturers contributed to the economic slowdown that led to the Great Depression? a) They were overproducing goods. b) They were not meeting consumer demands. c) They were charging high prices for their products. d) They were unable to pay back loans borrowed from banks.

a

Which statement about the New Deal is correct? a) It ended after the start of World War II. b) It had no long-term effect on the country. c) It was unable to end the Depression. d) It delayed US entry into World War II.

a (idk)

As economic theories, socialism and communism sought to a) encourage private ownership of businesses. b) even out inequalities of wealth. c) encourage little government oversight. d) build housing and schools for workers.

b

In the 1920s, many rural banks failed because a) banks had speculated in stocks. b) farmers could not repay their loans. c) the stock market surged. d) consumers took their money out.

b

The three main ideas behind capitalism as defined by Adam Smith are a) free markets, laissez-faire, and fair taxes. b) competition, self interest, and laissez-faire. c) laissez-faire, regulation, and self interest. d) competition, free markets, and trade limits.

b

While consumerism during the 1920s boosted the economy, it also led to a) more savings. b) higher debt. c) lower debt. d) fewer stocks.

b

The New Deal ended because a) strong opposition to its programs had grown. b) the economy had recovered. c) all its laws had been deemed unconstitutional. d) wartime military growth had reduced unemployment.

b (idk)

Businesses and industries in the 1920s most closely followed the buying demands of a) government. b) farmers. c) consumers. d) manufacturers.

c

How the overproduction of goods in the 1920s affected consumer prices, and in turn, the economy? a) Consumer demand increased, prices decreased, and the economy grew. b) Prices increased along with consumer demand, and the economy grew. c) Consumer demand decreased, prices decreased, and the economy slowed. d) Prices increased, consumer demand decreased, and the economy grew.

c

The Transcontinental Railroad was completed in a. 1835. b. 1859. c. 1869. d. 1888.

c

The growth of business led to the development of a new type of business organization called the corporation. Which of the following was a characteristic of a corporation? a. Each of the company's stockholders was legally responsible if the company went bankrupt. b. Only the owner of the company was legally responsible if the company went bankrupt. c. None of the company's stockholders was legally responsible if the company went bankrupt. d. The federal government was legally responsible if the company went bankrupt.

c

After he took office, President Roosevelt immediately started implementing his New Deal programs in order to a) reassure the world that the United States would help. b) limit the remaining influence of President Hoover. c) make Americans feel more confident about the future. d) inspire other countries to take action to help their people.

c (idk)

Which statement summarizes the effects of the Works Progress Administration (WPA)? a) The WPA brought international artists to the country. b) The WPA made unemployment payments. c) The WPA created jobs for the unemployed. d) The WPA helped construct the national highway system.

c (idk)

A strong economy depends on a) many investors speculating. b) many banks giving many people loans. c) most consumers buying on credit. d) most people's confidence in the economy.

d

In a dictatorship of the proletariat, who controls the government? a) dictators b) industrialists c) business owners d) working classes

d

In the 1920s, how did manufacturers make products faster and more cheaply? a) They reused old designs and models. b) They offered a smaller range of goods. c) They saved on costs by not advertising as much. d) They adopted Henry Ford's manufacturing techniques.

d

Karl Marx developed the economic theory of a) socialism. b) capitalism. c) utopianism. d) communism.

d

Many people who immigrated to the United States during the Gilded Age moved to a. farming communities, where they established their own farms. b. rural Southern areas, where they opened businesses. c. Western areas, where they managed cattle ranches. d. urban areas, where they worked in factories.

d

Population growth during the Gilded Age was due in large part to a. unemployment among workers. b. an improved food supply. c. better health care. d. immigration to the United States.

d

What was one major effect of industrialization on American society? a. More people received free higher education. b. More people received health care and benefits. c. More people took up family farming. d. More people moved to urban areas.

d

The Civilian Conservation Corps (CCC) provided relief to Americans by a) helping to reduce flooding on farms. b) bringing electricity to the Southeast. c) teaching people to recycle to save money. d) creating jobs that gave young men food and shelter.

d (idk)

In The Communist Manifesto, Karl Marx hypothesized that capitalism would fail if workers ________________.

revolted