Deck 7: Pre-Capitalism to Industrial Capitalism in the United States 1776-1865

Question 1

Whats defention of terms:
-Assets

Answer 1

things of value that can be owned

Question 2

Whats defention of terms:
-Corporation

Answer 2

a business in which all of the assets are owned by people who buy shares of stock, or shares of ownership, in the business

Question 3

Whats defention of terms:
-Gross Domestic Product (GDP)

Answer 3

the current dollar value of all final goods and services produced within the country in one year

Question 4

Whats defention of terms:
-limited liability

Question 5

Whats defention of terms:
-Neocolonial

Question 6

Explain the economic relationship of England and the U.S.
-What was the nature of trade between the United States and England when the United States was still a colony? Why?

Question 7

Explain the economic relationship of England and the U.S.
-Why did the U.S. economy stay undeveloped for so long?

Question 8

Explain the economic relationship of England and the U.S.
-Describe how the United States remains a neocolonial country after the Revolutionary War.

Question 9

Explain the economic relationship of England and the U.S.
-Was the United States really independent from England after 1776? Explain.

Question 10

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-How did monopolies in farm equipment and railroads impact early farmers?

Question 11

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-How is a corporation different from a business that is not organized as a corporation?

Question 12

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-Why did the building of the railroad have such a huge impact on the economic development of the United States? How was the building of the railroads financed?

Question 13

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-How were the workers who actually built the railroads treated in general? Give examples. How were ethnic minorities treated? Why?

Question 14

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-How did the idea of "rugged individualism" support capitalism? Why did the ideology of the United States so easily support capitalism?

Question 15

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-Unregulated capitalism was the predominate ideology of the era. In what ways is this ideology a good thing? In which ways is it bad?

Question 16

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-How did unbridled capitalism affect the distribution of wealth in the United States?

Question 17

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-In which ways did the law try to preserve social institutions? When was law used as a tool to change them?

Question 18

Explain the gradual shift from agriculture to urbanization and economic development and the impact on society.
-Discuss revisions to property rights laws and contract law. What happened to the notion of "just prices?"

Question 19

Discuss the evolution of the women's rights movement.
-What was the legal status of women in the early history of the United States?

Question 20

Discuss the evolution of the women's rights movement.
-Why did women on the frontier have a higher status than women on the East Coast?

Question 21

Discuss the evolution of the women's rights movement.
-What was the first right won by women in the 1850s

Question 22

Discuss the evolution of the women's rights movement.
-How did the work of women in the abolitionist movement lead to a separate women's movement?

Question 23

Describe how slaves were treated/exploited in America.
-Describe the living and working conditions for most slaves.

Question 24

Describe how slaves were treated/exploited in America.
-What social norms and laws were in place that perpetuated slavery?

Question 25

Describe how slaves were treated/exploited in America.
-What was the role of religion and underground churches for the slaves?

Question 26

Compare and contrast the Southern economy to the Northern economy.
-What is the difference in assets for capitalist enterprises in the North and the plantations of the South? How might this affect innovations and productivity?

Question 27

Compare and contrast the Southern economy to the Northern economy.
-What invention improved the productivity of Southern plantation? How did this affect the attitude of the slave owners?

Question 28

Compare and contrast the Southern economy to the Northern economy.
-Compare and contrast the distribution of agricultural output and wealth in the North and the South.

Question 29

Compare and contrast the Southern economy to the Northern economy.
-What problems for economic development did slavery cause in the South? Explain and give examples.

Question 30

Understand the causes, forces, and motivations behind the Civil War.
-Discuss how slavery was a factor in the Civil War. Was the war only about the institution of slavery itself or are there other factors?

Question 31

During the American colonial period, most exports to England were

A) textiles
B) agricultural products
C) guns and other weaponry
D) tea

Question 32

What percent of the labor force worked in agriculture in American colonies?

A) 2%
B) 20%
C) 50%
D) 80%

Question 33

What percent of the labor force worked in agriculture in the U.S. in 2000?

A) 2%
B) 20%
C) 50%
D) 80%

Question 34

When the U.S. was still a colony, trade between the United States and England consisted of

A) the American colonies imported raw materials and exported manufactured products to England.
B) the American colonies imported manufactured goods from England and exported raw materials.
C) the American colonies were self sufficient and did not engage in trade with England.
D) both England and the American colonies exported manufactured products

Question 35

What is the difference between a colony and a neo-colony?

A) A neo-colony has formal independence and no occupying troops but is still economically dependent on the former colonial power.
B) A colony is one that existed during the 18^th century. A neo-colony is a 20th century colony.
C) A country becomes a neo-colony, when it is invaded militarily again after independence.
D) A neo-colony is separated from the surrounding area similar to a gated community.

Question 36

What is the definition of a corporation?

A) A corporation is defined as a business that is owned by a single person.
B) A corporation is defined as a business that operates in more than one country.
C) A corporation is defined as a business owned by people who buy shares of stock.
D) A corporation is defined as a person that employs over 100 people.

Question 37

A corporation is said to have limited liability. What does limited liability mean?

A) Investors are liable for the debts of the business only up to the total value of their personal assets.
B) Investors are liable for the debts of the business only up to the value of their investment.
C) A corporation is not liable for its actions and cannot be sued.
D) Investors are protected against the loss of their investment in the business.

Question 38

Which of the following would be considered an asset of the XYZ corporation.

A) the total value of outstanding XYZ corporate stock.
B) the total value of outstanding XYZ corporate bonds.
C) the total sales revenue earned by XYZ corporation in one year.
D) the value of the XYZ corporations buildings, machinery, and furnishings.

Question 39

Which of the following is one of the important differences in northern farms and farms in the southern United States before the Civil War?

A) Farms in the north were, on average, much larger in size than those in the south.
B) Farms in the north were, on average, much more valuable than those in the south.
C) Farms in the north relied more heavily on slave labor than those in the south.
D) Farms in the north tended to have less productive land than the large plantations in the south.

Question 40

A direct cause of the Civil War was the attempt to expand slavery into the western United States. Why did slave owners want to expand into the West?

A) The practice of planting only one crop tended to deplete the soil in the South.
B) The governments of some southern states began to outlaw slavery.
C) There were more slaves in the West than in the South.
D) Northerners were moving into the South, so the slaveowners had to move West.

Question 41

What was the role of women in the Southern slaveowning culture?

A) women had equal rights and privileges as men.
B) women were allowed to own property but not slaves.
C) women had no rights or freedoms outside of their own households.
D) women tended to work outside the home more than Northern women.

Question 42

What was the attitude of Northern industrialists toward slavery?

A) Northern industrialists strongly supported slavery and used slaves in many factories.
B) Northern industrialists opposed slavery for the North, but were in favor of allowing its expansion into the West.
C) Northern industrialists strongly opposed slavery and also opposed its expansion into the West.
D) Northern industrialists opposed the formation of the anti-slavery Republican Party and remained staunch Democrats until the 1990s.