midterm-2-111A-solutions - Ecn 111A - Economic History of...

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Unformatted text preview: Ecn 111A - Economic History of the United States University of California - Davis February 27, 2009 Instructor: John Parman Midterm 2 - Solutions 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 (70 points) 1. The growth in American textile output was: (a) Partly due to improvements in textile technology. (b) A result of increased European demand for cotton textiles during the Jeffersonian em- bargo. (c) Partly due to increases in demand for cloth arising from population growth. (d) (a) and (c). (d) While improvements in textile technology increased the efficiency of manufac- turers, shifting the supply curve out, a large part of the increase in output was driven by a shift in demand caused by population growth. 2. Partly as a result of British mercantilist policies, transportation in the United States at the end of the 1700s was: (a) Inexpensive for inland travel due to a well-developed road network. (b) Already well developed for coastal and international ocean travel. (c) Based on a network designed to connect the Midwest to the Eastern ports. (d) Particularly well-suited to east-west travel. (b) British mercantilist policies promoted certain types of trade across the Atlantic. As a result, by the late 1700s the United States had well developed ocean shipping. Inland transportation networks were still very underdeveloped in the late 1700s and would see major improvements in the 1800s with the construction of canals and railroads. 3. The Erie Canal was: (a) An entirely privately funded project. (b) Mainly a project of the federal government. (c) Mainly a project of the state government. (d) Privately funded but run by the federal government. 2 Midterm 2 - Solutions (c) The Erie Canal was a massive state project. The State of New York had do borrow substantial amounts of money to construct the canal but ultimately made this money back with the success of the canal. 4. What is the correct order of modes of transportation in the early 1800s from highest cost per ton-mile to lowest cost per ton-mile? (a) Road, river (upstream), river (downstream), ocean. (b) Road, ocean, river (downstream), river (upstream). (c) Ocean, river (downstream), river (upstream), road....
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midterm-2-111A-solutions - Ecn 111A - Economic History of...

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