Deck 7: Hard Realities for a New Nation

Question 1

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 income.
C)The authority to regulate interstate commerce.
D)Both a and c

Answer 1

Both a and c

Question 2

The Continental Congress faced several constraints in its effort to finance the Revolutionary War.The largest source of funds for the War was

A)excise taxes.
B)domestic bond sales.
C)borrowing from foreign powers,such as France.
D)printing money.

Answer 2

printing money.

Question 3

What was not one of the Constitutional compromises about slavery?

A)Limited the importation of slaves to 20 years.
B)Northern states had to abide by the Southern states' slavery laws.
C)Prevented imported slaves from being taxed.
D)Slaves counted a 60% of a person for congressional representation.

Answer 3

Prevented imported slaves from being taxed.

Question 4

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 money supply.
C)Increases in bond sales.
D)Increases in tariffs.

Question 5

Which of the following responsibilities did the Constitution not give to the federal government?

A)The right to set laws on patents.
B)The sole right to mint coins.
C)The right to establish post offices.
D)The right to tax income.

Question 6

The Constitution

A)empowers each state to negotiate its own treaties with foreign governments.
B)empowers 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 Congress to set tariffs on goods moving from one state to another.

Question 7

During the Revolutionary War,the U.S.trade deficit increased because

A)U.S.imports decreased,while U.S.exports increased.
B)U.S.imports increased,while U.S.exports decreased.
C)U.S.exports decreased more than U.S.imports decreased.
D)U.S.imports decreased more than U.S.exports decreased.

Question 8

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.

Question 9

During the period following the Revolution,

A)the populations of the major cities increased dramatically.
B)per capita exports decreased slightly for the southern states.
C)per capita exports decreased sharply for the southern states.
D)on average,per capita exports increased.

Question 10

Which is a 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.

Question 11

The hyperinflation of the Revolutionary War period was in part caused by the issuance of paper money with a face value in the ______ of dollars.

A)millions
B)tens of millions
C)hundreds of millions
D)billions of dollars

Question 12

Post-Revolutionary trade data show that after 1790

A)U.S.trade with non-British areas of the Caribbean increased.
B)the export of food to the West Indies increased.
C)trade in the southern U.S.did not keep pace with population growth.
D)the U.S.exported tobacco to France and the Netherlands.
E)All of the above.

Question 13

The Embargo Act (1807)

A)provided little,if any aid to the emerging manufacturing sector in the U.S.
B)successfully forced England and France to ease their harassment of neutral ships.
C)reduced U.S.imports,but increased U.S.exports.
D)remained in effect until after the Civil War.
E) None of the above are correct.

Question 14

Immediately following the Revolution,

A)America found itself outside the protection of the British empire.
B)trade alliances with both Spain and France began to crumble.
C)all American-built vessels were ineligible to trade with the British Empire.
D)All of the above are correct.
E)Only a and b are correct.

Question 15

For the U.S. ,the Revolutionary War (1775-1781)period could best described as having a rapid growth in:

A)Trade.
B)Inflation.
C)Real per capita income.
D)Slave imports.

Question 16

During the Napoleonic Wars (1793-1815)

A)America experienced periods of full employment.
B)urbanization increased sharply.
C)America bore the brunt of the mercantilist policies of both England and France.
D)Both a and c are correct.
E) Both a and b are correct.

Question 17

In 1774 the best estimate for the size of the overseas trade as a proportion of national income is:

A)0-5%.
B)15-20%.
C)about 50%.
D)70-75%.

Question 18

The economic system envisioned by the Constitution _________.

A)embodied Adam Smith's emphasis on protecting private property.
B)used the Civil Code of France,rather than the English Common Law,as its foundation.
C)enshrined the traditional 18ᵗʰ century model of mercantilism which allowed the government to have large control over private ownership of goods and services.
D)fostered Jefferson's idea of a democracy based primarily on agriculture.

Question 19

The hyperinflation of the Revolutionary War period

A)persisted throughout the 19ᵗʰ century because of over-issue of paper money by the states.
B)has been exaggerated;prices were,in fact,quite moderate during the War.
C)was severe,but short-lived;prices returned to normal levels following the War.
D)was accelerated by the repudiation of most wartime-issued paper money following the War.

Question 20

What generated the most revenue for the U.S.government in the first 20 years after the Revolution?

A)Income taxes
B)Property taxes
C)Tariffs on goods imported from other nations
D)Inheritance taxes
E)Taxes on products shipped between states

Question 21

If a the price index was 60 in 2000 and the price index was 90 in 2009,the best estimate of the annual inflation rate between 1998 and 1999 is

A)15%.
B)40%.
C)50%.
D)90%.
E)7/5.

Question 22

The U.S.terminated its role in the slave trade in the early 1800s.What is the best assessment of what would have happened had the U.S.not ended the slave trade?

A)The price of slaves would be lower and the wages of free workers would be lower.
B)The price of slaves would be higher and the quantity of free workers would be lower.
C)The price of slaves would be lower and the wages of free workers would be higher.
D)The quantity of slaves would be higher and the quantity of free workers would be higher.
E)The quantity of slaves would be lower and the wages of free workers would be lower.

Question 23

When the colonies obtained independence they were no longer bound by a number of English laws,including the Navigation Acts.What best describes the impact of the removal of the Navigation Acts for commodities that were imported from Europe via England?

A)A shift out of the supply curve and a shift back in the demand curve,which
Lowered prices.
B)A shift out in the supply curve,which decreased the price and increased the
Quantity.
C)A shift back in both the supply and demand curves,which decreased quantity.
D)A shift back in the demand curve,which lowered both price and quantity.