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Midterm1Econ125SS12020.pdf

Midterm 1 Econ 125 SS12020 Please answer all questions on a separate file. Please save all of your answer files as either PDF or JPEG. Please turn in your answers by the due date and time listed on Canvas. Please upload the PDF and/or JPEG files to the correct assignment in the Canvas page. The test is an open resource test. THIS TEST JUST LIKE ALL OF YOR OTHER ASSIGNMENTS AS STATED IN BOLD IN THE SYLLABUS WILL BE CURVED. Please answer the following multiple-choice questions (1 point each): 1. Which of the following is NOT a direct indicator of a society’s well-being?

a. Changes in average height b. Changes in life expectancy c. Changes in average weight d. Stock of nuclear weapons

2. Which of the following most accurately describes changes in life expectancy? a. Life expectancy was relatively low until 1750, after which it increased rapidly. b. Life expectancy has increased steadily during the past 6,000 years.

c. Life expectancy was low until after World War II, after which it increased very quickly. d. Life expectancy has exhibited significant cyclical patterns of growth and decline.

3. Per capita GDP in the U.S. during the 20th century _____. a. has remained about the same b. increased until about 1970 and decreased since then c. was cyclical, but generally trending upward throughout the century

d. was cyclical, but generally trending downward throughout the century 4. Which of the following is true about present day Americans who are classified as “officially poor” by the government? a. Their incomes are about the same as those at the official poverty level in 1950. b. Their incomes are higher than all but the richest Americans in 1900. c. Their incomes are about the same as those at the official poverty level in 1900. d. Their incomes are about the same as those in the middle class in 1950.

5. Which of the following is true about present day Americans who are at the official poverty level?

a. Their incomes are about the same as the average per capita income in most of the developed nations of the world.

b. Their incomes are about half of the average world income. c. Their incomes are far higher than the average per capita income in most of the rest of the world. d. Their incomes are almost equal to the average income of people in nations like China, India, and Pakistan.

6. Which of the following statements is most accurate about ownership of household goods, such as flush toilets, refrigerators, televisions, clothes dryers and automobiles? a. In 2005, very few “officially poor” Americans owned these goods.

b. The same proportion of Americans who were officially poor owned these goods in 2005 in comparison to 1950. The proportion of officially poor Americans who owned these goods in 2005 was equal to the proportion of all households who owned these goods in 1950. c. A higher proportion of “poor” Americans owned these goods in 2005 compared to the proportion of all U.S. households who owned these goods in 1950. d. The proportion of Americans at the poverty level who owned these goods in 2005 was exactly double the proportion of all households who owned these goods in 1950.

7. In the year 2010, the richest fifth of the American population earned close to:

a. 50% of the total income. b. 20% of the total income. c. 30% of the total income. d. 80% of the total income.

8. Which nation pioneered Atlantic exploration? a. England b. Italy c. Portugal d. Spain

9. Bartholomeu Dias was one of the leading explorers from _____. a. England b. France c. Holland d. Portugal e. Spain

10. Which of the following expeditions is associated with Bartholomeu Dias? a. Rounding the Cape of Good Hope b. Sailing from Portugal to India and back to Portugal c. Sailing around the world d. Reaching South America e. Exploring the interior landmass of Canada 11. Cortez was one of the leading explorers from _____. a. England b. France c. Holland d. Portugal e. Spain 12. The agreement that established Spain and Portugal’s rights to explore various parts of the world was called: a. the Treaty of Spain. b. the Treaty of Paris. c. the Treaty of Tordezillas. d. the Spanish-Portuguese Covenant. e. the London Accord. 13. _____ established the first American colonies in the early 1500s.

a. England b. The Low Countries c. France d. Spain

14. In the 1600s, _____ and _____ emerged as the chief competitors in the race for control of North America. a. Spain; England b. England; Holland c. England; France d. Spain; France 15. Which nation made the greatest commitment to establish permanent settlements in its colonization strategy? a. England b. France c. Holland

d. Spain

16. Which was a common sociopolitical/economic feature of Colonial America? a. Difficulty in the expansion of agriculture b. Commercial production of finished metal parts for locomotion c. Significant improvement of infrastructure, especially roads d. None of the above is correct.

17. In colonial America, ____________ was/were especially scarce, while the supply of _______________ was plentiful.

a. land and labor; capital b. capital and labor; land c. land and capital; labor d. unskilled labor; skilled labor

18. At the end of the 18th century, approximately _______ percent of the American people earned a major portion of their income by farming.

a. 25 b. 50 c. 70 d. 90

19. Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________.

a. better; of favorable protections from England b. better; of high levels of output per worker. c. worse; of unfavorable taxation d. worse; of the inaccessibility of both capital and finished machine goods.

20. All of the following were important colonial industries except:

a. tobacco production. b. production of ships’ stores. c. manufacturing of finished metal products. d. shipbuilding.

21. Agricultural staples of the colonial South included:

a. rice. b. tobacco. c. indigo. d. All of the above.

22. Colonial production of tobacco satisfied England’s mercantilist interests because: a. it provided a substitute for imported Spanish tobacco. b. its poor-quality discouraged English youth from smoking. c. it provided a good that could be taxed by the English. d. it ensured that the colonists would remain dependent on England for food.

23. A nation practicing mercantilism aims to a. keep the government out of the economy. b. establish an excess of exports over imports. c. balance imports with exports. d. replace gold and silver with paper money. e. reduce the size of the military sector. 24. The aims of mercantilists do not include

a. achieving power and wealth for the state. b. achieving political and economic unity. c. keeping artisans in the home country. d. All of the above were aims of the mercantilists.

25. According to the mercantilists, colonies were supposed to export ________ and import ________ from _______. a. manufactured products, raw materials, the mother country. b. raw materials, manufactured products, countries outside the empire. c. manufactured products, raw materials, countries outside the empire. d. raw materials, manufactured products, the mother country. 26. England's mercantilist principles:

a. were active from the early 1600s. b. were active from the early 1700s. c. were a response to Spanish tariffs. d. were pursued by Charles II after 1685.

27. Mercantilists believed that national military power could be achieved best by _______.

a. confiscating church lands and selling them to private businesses. b. freeing business from government regulation. c. having the government supply the infrastructure for the economy, while leaving private enterprise alone in other spheres. d. strictly regulating economic life.

28. Mercantilists wanted a favorable balance of trade, by which they meant a. exports = imports. b. exports > imports. c. exports < imports. d. To import nothing from the colonies. 29. The primary source of colonial productivity growth in agriculture was:

a. learning by doing. b. an increased capital-labor ratio. c. technology improvements. d. the introduction of hybrid seeds and fertilizer.

30. Between 1620 and 1710, the price of tobacco in the colonies:

a. rose rapidly. b. remained fairly stable due to monopolistic competition. c. fell from over 20 pence sterling to roughly one pence per pound. d. fell from over 20 pence sterling to roughly 10 pence per pound.

31. According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the number of cleared acres per farm ______________.

a. increased; decreased b. decreased; increased c. decreased; remained fairly stable d. remained fairly stable; increased

32. According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the output per farm ______________.

a. increased; decreased b. decreased; increased c. decreased; remained fairly stable d. remained fairly stable; increased

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

a. increases in average farm size. b. increases in the amount of labor per farm. c. decreases in the land-labor ratio d. increases in the capital-labor ratio.

34. In the early decades of the 18th century, English goods sold for as much as 80 to 140 percent more in the colonies than in England primarily due to:

a. high tariffs on English goods imported to the colonies. b. a limited supply of English goods available for shipment to the colonies. c. high transportation costs for goods shipped from England to the colonies. d. legally established price floors on English goods sold in the colonies.

35. Which of the following statements accurately characterizes American trade during the Revolutionary War?

a. The American colonies actively traded with France, Holland and Spain until 1778, when trade was hampered by British blockades. b. British blockades hampered the trade activities of first Northern and later Southern ports. c. American trade remained below pre-war levels. d. Decreases in imports led to increases in domestic production of textiles, beer and other products. e. Both b and c are correct.

36. What was not one of the problems of the Articles of Confederation?

a. It did not allow the federal government to tax. b. It did not give the federal government sufficient power to define international relationships. c. It could not keep the states together as a political union. d. It did not give the federal government the sole right to mint coins.

37. Which of the following statements is an accurate description of the Revolution?

a. It never had majority support. b. Two-thirds of the population either opposed it or did nothing to support it. c. It became a popular war, maintaining widespread popular support after 1776. d. Both a and b are correct. e. None of the above are correct.

38. In the U.S., the Revolutionary War (1775-1781) was immediately followed by an increase in: a. trade. b. inflation. c. real per capita income. d. slave imports.

39. What method did the U.S. use to fund most of the cost of the Revolutionary War? a. Increases in taxes b. Increases in the issue of paper money c. Increases in bond sales d. Increases in tariffs 40. Which of the following most accurately and completely describes the responsibilities the Constitution gave to the federal government? a. The authority to provide for copyrights and patents b. The right to tax c. The authority to regulate interstate commerce d. All of the above 41. The Constitution:

a. empowers each state to negotiate its own treaties with foreign governments. b. empowers the Congress to pay off all public debts, including those incurred by the states. c. allows for states to set tariffs on goods imported from another state. d. allows only the Congress to set tariffs on goods moving from one state to another.

42. Which was not one of the main U.S. land acquisitions? a. Mexican Cession b. Western Purchase c. Gadsden Purchase d. The Oregon Country 43. Which was not one of the main U.S. land acquisitions? a. The Oregon Country b. The Texas Annexation c. The Florida Acquisition d. The Gadsden Purchase e. All of the above are U.S. land acquisitions. 44. Under the system of "township planning"

a. no one could own land that had not been previously surveyed. b. settlers chose their own plots of land, under the supervision of a county surveyor. c. legal descriptions of property made reference to permanent natural objects. d. gaps between unsettled and settled land were encouraged.

45. The Northwest Land Ordinance of 1785 provided for western lands to be divided into townships, each of which covered

a. 100 acres. b. all of the land between any two identifiable natural objects, such as streams, trees or rocks. c. enough land to support 10 families. d. 36 square miles.

46. The immigrants most likely to go directly to the lands in the West, rather than be absorbed into the eastern city populations, were from

a. England and Scotland. b. Germany c. Ireland. d. France.

47. The majority of immigrants coming to the U.S. in the 1840s and 1850s were from

a. England and Scotland. b. Italy. c. Germany and Ireland. d. France.

48. During the antebellum period, the “Old Northwest” became the leading producer of

a. corn. b. wheat. c. hogs. d. All of the above.

49. The sharp decline in domestic freight costs during the antebellum period was primarily due to the introduction of:

a. railroads. b. paved roads. c. clipper ships. d. canals and steamboats.

50. All of the following statements present accurate information about the major antebellum transport routes except:

a. The Northeastern Gateway connected Pittsburgh to Philadelphia and Wheeling to Baltimore. b. The Southern Gateway was primarily a water-based route. c. The Mid-Atlantic Gateway connected Savannah and Charleston to Washington, DC via roads and railroads. d. The Northern Gateway included the Erie Canal.

51. Between 1820 and 1840 freight rates on western rivers declined drastically. The main reason for this drop in prices was _________. a. the decline in the price level. b. tolls and other barriers to trade decreased. c. the decline in monopoly power. d. the frequent use of the steamboat. 52. The introduction of steamboats:

a. led to dramatic declines in the price of upstream transport. b. led to moderate declines in the price of downstream transport. c. is the primary reason for falling transportation costs in the early 1800s. d. led to an initial decrease in transport costs that continued to fall due to learning by doing and the construction of lighter boats with increased capacity. e. All of the above.

53. Which did not cause significant navigation problems on inland waterways?

a. ice b. variations in the heights of rivers c. sand bars d. sunken ships e. inland piracy

54. The Erie Canal, the most important canal (in terms of the number and dollar value of shipments), was in a. Georgia. b. New York. c. Pennsylvania. d. Maryland. 55. The majority of funding for 19th century American canal building came from

a. the federal government. b. state governments. c. local governments. d. private investors.

56. Between 1830 and 1860, the number of miles of railroad in operation increased by

a. roughly 100 percent. b. roughly 500 percent. c. roughly 750 percent. d. over 1000 percent.

57. In 1791, what percentage of America’s clothing was homemade? a. 10%–20% b. 30%–40% c. 60%–80% d. 95% or more

58. As canals, steamboats, and railroads were built,

a. home production declined. b. manufacturing by artisans increased. c. prices of basic goods like clothing increased. d. product quality declined. e. All of the above.

59. By 1830 home manufacture had declined significantly due to: a. increased industrial organization. b. increased tariffs. c. advances in transportation. d. Both a and b are correct. e. Both a and c are correct. 60. Which of the following phrases does not describe an essential characteristic of a factory?

a. produces a standardized product to be sold in a wide market b. relies on stocks and bonds in order to finance plants and machinery c. assembles workers under a definite organizational discipline d. carries out complex operations in one building or in adjacent buildings

61. The first factories in the US were developed within the __________ industry.

a. iron smelting b. grain milling c. boot and shoe d. cotton textile

62. By 1860, two-thirds of America's woolen output was produced in:

a. the area surrounding Philadelphia. b. New England. c. the Mid-Atlantic states. d. New York city.

63. By 1860, almost ¾ of the U.S. output of cotton goods was produced in: a. the area surrounding Philadelphia. b. New England. c. the Mid-Atlantic states. d. New York City.

64. Before 1860, most of the U.S. population lived _____ and most workers _____.

a. in small to medium cities; were members of trade guilds b. in rural areas; were self-employed c. in large cities; were self-employed d. in large cities; were employed in mills and factories

65. In the antebellum period, the largest source of employment was:

a. the agricultural sector. b. the manufacturing sector. c. government (local, state and federal) d. the service industry.

66. Between 1820 and 1860, in the U.S.,

a. real wages rose. b. unskilled workers’ earnings fell relative to skilled workers’ earnings. c. fertility rates fell. d. the number of self-employed workers fell. e. All of the above.

67. The population of the United States grew _____ during the first half of the 19th century.

a. slowly b. erratically c. about 3 percent per year d. about 6 percent per year

68. The U.S. population growth rate in the first half of the 19th century was

a. about the same as that of most European countries. b. lower than that of most European countries. c. much higher than that of most European countries. d. sporadic—sometimes high and sometimes low.

69. Yasukichi Yasuba’s research suggests that the decline in the U.S. fertility rate in the antebellum period was due to

a. rising land prices. b. people marrying later in life. c. rising manufacturing wages. d. a high percentage of young males and a low percentage of young females in the population.

70. U.S. immigration rates were particularly high from

a.1800 to 1815. b.1820 to 1825. c.1830 to 1840. d.1845 to 1860.

71. The high period of immigration in the first half of the 19th century was caused by

a. the Irish potato famine. b. political unrest in Europe. c. political unrest in China. d. Only a and b are correct. e. None of the above are correct.

Requirements for the Midterm 1 essays Econ 125

TECHNICAL REQUIREMENTS:

• 1-inch margins all around (we will measure, YOU must make sure that your uploading is printing correctly, this is not my or the grader’s responsibility, it is yours.)

• Use a clear, readable, font such as Verdana, Calibri, Tahoma or Arial. Please be consistent and use the same font throughout.

• Use black text on a white background. Avoid colored backgrounds or text in a color other than black unless you have special permission to use them (for example, if you're dyslexic).

• Use 12-point font for the body of your assignment.

• Use double spacing, with only one-line space between paragraphs

• Left-justify your work (also known as left-aligned).

• Use bold for headings. Not underlining or italics.

• You must have a(n) Title, Introduction, Thesis Statement, Transitions, Topic Sentences, Body Paragraphs, and Conclusion

• A paragraph is at least four complete sentences. (A paragraph is also a complete thought onto itself.)

Please answer the following Essay Questions with 3-5 paragraphs each; an Introduction, a body paragraph(s), and a conclusion.

1. What is Mercantilism? (50 points)

2. How did the different forms of transportation shape the economical regional differences in the ante-bellum period? (50 points)

3. What and with whom, did the colonies trade? (50 points)

4. Why didn’t the colonial workers organize throughout the colonial period? Why did they start to organize during the antebellum period? (50 points)