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.

(02.03 MC)When you are eating dinner with your family, which type of neuron allows you to reach out to scoop yourself more potatoes or grasp your glass of water and lift it to your mouth to take a drink?

“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.

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. 

If a product exhibits decreasing returns to scale, then the average cost of making the product will ______ as a company produces more of it?    a.  Increase.   b.  Decrease.   c.  Remain the same.   d.  There is insufficient information provided to ANSWER the question.

Which of the following most accurately describes the “Fisher effect?”    a.  Interest rates increase after inflation and decrease after deflation, but with a long lag.    b.  Interest rates are independent of inflation and deflation.    c.  Interest rates increase after inflation, but are not affected by deflation.    d.  Increasing interest rates precede inflation and decreasing interest rates precede deflation. 

According to Gresham’s Law,   a.  inflation and unemployment are inversely related.   b.  tax rates and tax revenues are inversely related.   c.  bad money drives out good money.   d.  inflation is inevitable in the long run.

Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________.   a.  better; of favorable protections from England   b.  better; of high levels of output per worker.   c.  worse; of unfavorable taxation   d.  worse; of the inaccessibility of both capital and finished machine goods.

What most accurately describes the U.S. compared to other nations in the early 1900s?   a.  The U.S., which was still quite young, was one of the least productive nations in the world in both the agricultural and manufacturing sectors.   b.  The U.S., Great Britain and Germany were the three most industrialized nations.   c.  The industrial output in the U.S. was about average compared the rest of the nations in the world.   d.  The U.S., which had large supplies of land, had a highly productive agricultural sector, but its industrial productivity was quite low relative to that of other nations.