The Rhode Island System   a.  employed whole families to work in textile mills.   b.  employed young women in their late teens and early twenties.   c.  banned the use of child workers in factories.   d.  relied on a workforce mainly consisting of former slaves.

What was not one of the primary reasons why people opposed the First and Second Banks of the United States?    a.  They printed too much money and triggered a substantial inflation.   b.  They had monopoly control over some banking activities.   c.  They were unconstitutional.   d.  They did not provide sufficiently generous lending policies.

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.

A _________ is an agreement under which stockholders of several formerly-competing companies turn over their shares to a group that exercises voting control over the companies.   a.  trust   b.  gentleman’s agreement   c.  holding company   d.  pooling arrangement

“Automatic stabilizers” played a part in reducing the length and severity of the recession of 1953-54.  This term refers to   a.  deficit spending by the federal government.   b.  spending on education by local and state governments.   c.  programs like unemployment insurance and Social Security.   d.  actions by the Federal Reserve aimed at reducing interest rates.

“Economic exploitation” is measured by   a.  the sum of all input costs, both direct and indirect.   b.  the difference between the value of output a worker adds and what she receives.   c.  the difference between a monopoly’s profit and the profit of a competitive firm.   d.  the average wage of a skilled worker divided by the average wage of an unskilled worker.

Advertising to differentiate your product most often occurs in what type of industry?   a.  Industries that produce agricultural crops.   b.  Industries with monopolies.   c.  Industries with monopolistic competition.   d.  Perfectly competitive industries. 

Which of the following is most  accurate about Europe during World War I?   a.  Long-standing nationalistic and imperialistic rivalries produced a dangerous political situation.    b.  The continent had experienced several major wars in the preceding decades.    c.  Industrialization and a greater commitment to international trade had created rapidly rising standards of living.    d.  There was rising solidarity among the labor movements of different nations. 

Samuel Gompers is most recognized for:    a.  the invention of air brakes for trains.   b.  his role as an early union leader.    c.  invention of a steel manufacturing process.    d.  the development of refrigerated train cars. 

The Beard-Hacker Thesis claims that postbellum economic growth in the United States   a.  was slowed by rapid immigration.   b.  was accelerated by rapid immigration from English speaking countries.   c.  was slowed by the formation of industrial monopolies.   d.  was accelerated by economic and financial changes generated by the Civil War.