(04.03 MC)Question refers to the excerpt below.”Cotton is the fabric of civilization. It has built up peoples, and has riven them apart. It has brought to the world vast and permanent wealth. It has enlisted the vision of statesmen, the genius of inventors, the courage of pioneers, the forcefulness of manufacturers, the initiative of merchants and shipbuilders, and the patient toil of many millions. A whole library could be written on the economic aspects of cotton alone. It could be told in detail, how and why the domination of the field of its manufacture passed from India to Spain, to Holland, and finally to England, which now shares it chiefly with the United States. The interdependence of nations which it has brought about has been the subject of numerous books and articles. Nor is the history of the inventions which have made possible today’s great production of cotton fabrics less impressive. From the unnamed Hindu genius of pre-Alexandrian days, through Arkwright and Eli Whitney, down to Jacquard and Northrop, the tale of cotton manufacture is a series of romances and tragedies, any one of which would be a story worth telling in detail. Yet, here is a work that is by no means finished. Great inventors who will apply their genius to the improvement of cotton growing and manufacture are still to be born.”Source: The Fabric of Civilization, 1919The role of cotton as the “fabric of civilization” was evident in which of the following in the early 1800s?

(06.06 MC) Assume that the real interest rate falls in Country Y. Which of the following will occur?

(02.05 HC)This question refers to the following excerpt.”KNOW YE … That for the further Well- being and good Government of the said Province, and Territories; … I the said William Penn do declare, grant and confirm, unto all the Freemen, Planters and Adventurers, and other Inhabitants of this Province and Territories, these following Liberties, Franchises and Privileges …Because no People can be truly happy, though under the greatest enjoyment of civil liberties, if abridged of the freedom of their consciences, as to their religious profession and worship: And Almighty God being the only Lord of Conscience, Father of Lights and Spirits; and the Author as well as object of all divine knowledge, faith and worship, who only doth enlighten the Minds, and persuade and convince the understandings of people, I do hereby grant and declare, that no person or persons, inhabiting in this Province or Territories, who shall confess and acknowledge One almighty God, the Creator, Upholder and Ruler of the World; and profess him or themselves obliged to live quietly under the Civil Government, shall be in any case molested or prejudiced, in his or their person or estate, because of his or their conscientious persuasion or practice, nor be compelled to frequent or maintain any religious worship, place or ministry, contrary to his or their mind, or to do or suffer any other act or thing, contrary to their religious persuasion.And that all persons who also profess to believe in Jesus Christ, the Savior of the World, shall be capable (notwithstanding their other persuasions and practices in point of conscience and religion) to serve this Government in any capacity, both legislatively and executively.” Source: William Penn, from Pennsylvania Charter of Privileges and Liberties (1701) What was the primary reason that William Penn granted religious freedom in his colony?

(05.02 MC) An unemployment rate less than the natural rate of unemployment would correspond to

(03.09 MC)Which of the following could be an outcome of unexpected inflation?

(06.02 MC) Use the graph to answer the question that follows.Which of the following is a consequence of the shift in the demand curve as shown in the graph?

(06.02 MC) Use the graph to answer the question that follows.From the graph, at price P2, supply is greater than the demand. How will the price adjust in order to bring the exchange rate to its equilibrium?

(04.06, 04.07 HC)Question refers to excerpts below.”Still, though a slaveholder, I freely acknowledge my obligation as a man; and I am bound to treat humanely the fellow creatures whom God has entrusted to my charge…It is certainly in the interest of all, and I am convinced it is the desire of every one of us, to treat our slaves with proper kindness.”Source: Letter from former South Carolina governor James Henry Hammond, 1845″Standing with God and the crushed and bleeding slave on this occasion, I will, in the name of humanity which is outraged, in the name of Liberty which is fettered, in the name of the constitution and Bible, which are disregarded, and trampled upon, dare to call in question and denounce…slavery ‘the great sin and shame of America’!”Source: Fredrick Douglass, from speech titled “The Meaning of July Fourth for the Negro,” 1852The ideas of Hammond are most clearly an example of which of the following mid-19th century developments?

  (03.07 HC) Use the graph to answer the question that follows. An economy attained a long-run equilibrium at point A. How does the price adjust in the long run when the aggregate demand rises from AD1 to AD2 to bring the economy back to its natural rate?

(04.03 MC)Question refers to the table below. Year Estimated Number of Migrants to the U.S. 1820 10,000 1825 15,000 1830 22,000 1835 40,000 1840 80,000 1845 80,000 1850 360,000 What was the direct cause of the trend shown in the table?