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Unformatted text preview: Ecn 111A - Economic History of the United States University of California - Davis January 30, 2009 Instructor: John Parman Midterm 1 You have until 1pm to complete the exam, be certain to use your time wisely. For multiple choice questions, mark your answer on your scantron sheet. Choose only one answer for each multiple choice question; if more than one letter is chosen for a question it will be marked wrong. Write your answers for the essay section directly on the exam. Calculators may not be used. Remember to put your name and ID number on both the exam (in the spaces provided below) and on the scantron sheet. Good luck! Name: ID Number: Section: SECTION I: MULTIPLE CHOICE (60 points) 1. Over the history of the United States, has become less important and has become more important in sustaining overall economic growth. (a) Extensive growth, intensive growth. (b) Extensive growth, growth in the agricultural sector. (c) Growth in manufacturing, growth in the agricultural sector. (d) Productivity advance, growth in land under cultivation. 2. Living standards in colonial America were: (a) Falling as a result of rapid population growth. (b) Significantly higher than modern American living standards. (c) Maintained largely because of the availability of abundant land. (d) Only slightly lower than modern American living standards. 3. Which of the following was not a feature shared by both the early central banking system (the First and Second Banks of the United States) and the modern Federal Reserve System? (a) Both handled the banking needs of the federal government. (b) Both could influence money supply. (c) Both had branch banks throughout the country. (d) Both could set reserve requirements for the banking industry. 4. The dominant sector of the colonial economy was: (a) Ship building....
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- Spring '10
- Economics, Indentured servant, Indenture, colonial goods