Economics history
1) Cincinnati was founded by missionaries with the intention of developing a theocratic society.
a. True
b. False
2) The discovery of oil in Texas led to waves of industrialization and significant changes to the economy.
a. True
b. False
3) American slaves were often undernourished as children, but fed well as adults, resulting in a unique “catching up,” of heights relative to comparison groups.
a. True
b. False
4) During South Korea’s economic development, very little change came to the industrial structure or makeup of exports
a. True
b. False
5) Piketty’s theory on inequality was that faster increases in the growth of capital income vs. wage income led to an increase in the concentration of wealth.
a. True
b. False
6) During the roaring twenties, prosperity was widespread and economists believed they reached a new level of prosperity
a. True
b. False
7) Knowledge during the European age of exploration was partially built off that of Arab and Muslim explorers during preceding years.
a. True
b. False
Page 1 of 3
8) Which of the following is a major reason the city of Columbus developed?
a. Columbus was a transportation hub, and could trade with cities like Cincinatti and Pittsburg easily
b. Columbus was the state capital, and offered political value for those who sought to influence legislators
c. Rich deposits allowed Columbus to export coal cheaply
9) Which does NOT describe a limitation of China during their economic reforms of the last few decades?
a. Unemployment and difficulty finding jobs
b. Inequality between Eastern and Western portions of the country
c. Abnormally high tariffs on steel
10) Which was NOT an effect of the Black Plague?
a. Religious fervor and fanaticism increased, resulting in persecution in some cases
b. Wages rose due to the reduction in the supply of labor
c. Approximately 75 to 200 million people died across Europe and Asia
d. An increase in exploration and understanding of science and medicine
11) Which is most likely to describe a “source country,” for human trafficking?
a. A developing country with low rates of growth
b. A highly religious country with traditional institutions
c. A rich and economically forward country
d. A socially liberal, sexually relaxed country
12) Which of the following did not contribute to the long-run prosperity of the US?
a. Good Economic institutions
b. Geography and natural resources
c. Unified religion and a further demand for central governance
d. Opportunity-centered and hard-working culture
13) Which was NOT a policy that led to Singapore’s economic expansion?
a. Good free trade relationships with other countries
b. Investments in infrastructure and technology
c. Adoption of Calvinism as the national religion
d. Work with the UN and adoption of the Economic Development Board
14) What was of India’s responses to the financial crisis?
a. Collectivization of the means of production
b. Decrease of import taxes and an expansion of trade
c. Return to traditional agricultural methods
15) Which was not an effect of the Bubonic Plague in Europe
a. Population reduction of approximately 33% in Europe
b. Food prices rose due to strains on livestock
c. Unrest and revolts as landlords attempted to control economic responses
16) Which of the following was NOT a reason China adopted the One Child Policy?
a. Limited food relative to agricultural capacity
b. Limited economic opportunity relative to number of young people seeking employment
c. Widespread child labor led to pressure to reduce it
1) Cincinnati was founded by missionaries with the intention of developing a theocratic society.
a. True
b. False
2) The discovery of oil in Texas led to waves of industrialization and significant changes to the economy.
a. True
b. False
3) American slaves were often undernourished as children, but fed well as adults, resulting in a unique “catching up,” of heights relative to comparison groups.
a. True
b. False
4) During South Korea’s economic development, very little change came to the industrial structure or makeup of exports
a. True
b. False
5) Piketty’s theory on inequality was that faster increases in the growth of capital income vs. wage income led to an increase in the concentration of wealth.
a. True
b. False
6) During the roaring twenties, prosperity was widespread and economists believed they reached a new level of prosperity
a. True
b. False
7) Knowledge during the European age of exploration was partially built off that of Arab and Muslim explorers during preceding years.
a. True
b. False
Page 1 of 3
8) Which of the following is a major reason the city of Columbus developed?
a. Columbus was a transportation hub, and could trade with cities like Cincinatti and Pittsburg easily
b. Columbus was the state capital, and offered political value for those who sought to influence legislators
c. Rich deposits allowed Columbus to export coal cheaply
9) Which does NOT describe a limitation of China during their economic reforms of the last few decades?
a. Unemployment and difficulty finding jobs
b. Inequality between Eastern and Western portions of the country
c. Abnormally high tariffs on steel
10) Which was NOT an effect of the Black Plague?
a. Religious fervor and fanaticism increased, resulting in persecution in some cases
b. Wages rose due to the reduction in the supply of labor
c. Approximately 75 to 200 million people died across Europe and Asia
d. An increase in exploration and understanding of science and medicine
11) Which is most likely to describe a “source country,” for human trafficking?
a. A developing country with low rates of growth
b. A highly religious country with traditional institutions
c. A rich and economically forward country
d. A socially liberal, sexually relaxed country
12) Which of the following did not contribute to the long-run prosperity of the US?
a. Good Economic institutions
b. Geography and natural resources
c. Unified religion and a further demand for central governance
d. Opportunity-centered and hard-working culture
13) Which was NOT a policy that led to Singapore’s economic expansion?
a. Good free trade relationships with other countries
b. Investments in infrastructure and technology
c. Adoption of Calvinism as the national religion
d. Work with the UN and adoption of the Economic Development Board
14) What was of India’s responses to the financial crisis?
a. Collectivization of the means of production
b. Decrease of import taxes and an expansion of trade
c. Return to traditional agricultural methods
15) Which was not an effect of the Bubonic Plague in Europe
a. Population reduction of approximately 33% in Europe
b. Food prices rose due to strains on livestock
c. Unrest and revolts as landlords attempted to control economic responses
16) Which of the following was NOT a reason China adopted the One Child Policy?
a. Limited food relative to agricultural capacity
b. Limited economic opportunity relative to number of young people seeking employment
c. Widespread child labor led to pressure to reduce it