Test 3 Flashcards
(135 cards)
Which of the following is the most accurate description of the US between 1880 and 1920?
The United States was the leading manufacturer in the world in terms of total production and output per worker.
What is least accurate about marketing and selling in the US prior to the Civil War?
Most companies eliminated wholesalers to market products directly to their customers and save money.
What is the most accurate statement about the fraction of the US population that lived in urban areas between 1800 and 1910?
The fraction of the US population that lived in urban areas grew steadily throughout the period.
Which of the following is least accurate in characterizing changes in retailing in the second half of the 19th century?
Large growth in the number of “general stores.”
What is least accurate about marketing and selling in the US after the Civil War?
There was a decrease in product differentiation—goods became more alike.
What most accurately describes the U.S. compared to other nations in the early 1900s?
The U.S., Great Britain and Germany were the three most industrialized nations.
Which is least accurate about foreign trade?
The most industrialized nations exported foodstuffs and raw materials to the least developed countries.
What most accurately describes the US tariff policy between 1850 and 1910?
The US became more protectionist during the Civil War and the level of tariffs remained high into the beginning of the 20th century.
What most accurately describes imperialism between 1870 and 1917?
The “Roosevelt Corollary” and the Monroe Doctrine were the primary documents that outline the US foreign policy.
Advertising to differentiate your product most often occurs in what type of industry?
Industries with monopolistic competition.
Which of the following is least accurate about the US during World War I?
Soldiers were obtained through volunteer army and without a draft.
Which of the following is most accurate about the US during World War I?
The continent had experienced several major wars in the preceding decades.
Which nation was not an ally of the United States during World War I?
Austria-Hungary
Which of the following is the least accurate?
The financial center of the world shifted from New York before the war to London and Paris after the war.
The U.S. financed WWI primarily by:
borrowing from the public.
The best description of the economic ideology during World War I was __________.
The belief that the economy could be strengthened by centralized coordination.
What most accurately describes what happened to earnings in the US between 1914 and 1920?
Both nominal and real earnings increased substantially.
At the end of World War I, the ___________ outlined in broad terms the territorial adjustments that should occur in Europe, the extent of the reparations the losing nations owed, and the general association of nations that would guarantee each nation’s sovereignty in the future.
The Fourteen Points.
All of the following are associated with the War Industries Board except
establishing and enforcing minimum wages for manufacturing workers.
Food rationing during World War I under the wartime food administration featured
voluntary calls for “Meatless Mondays” and “Wheatless Wednesdays.”
What best describes the impact of a price ceiling in a competitive market?
It will likely lead to consumers waiting in line for longer periods of time to buy the good.
If a government wants to distribute the burden of increased spending onto future generations it should:
Borrow from the public.
What best describes the reason for the large migration of African-Americans from the south to the north during the 1920s?
Employers in the North who had traditionally hired many immigrants had to search elsewhere when immigration restrictions were imposed.
“Marriage bars”
- became more widespread in the 1920s
- forced female employees to leave work when they married.