Economics 11th Edition Test Bank

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1Student: ___________________________________________________________________________1.The Social Security Program began during the administration ofA. Franklin D. Roosevelt.B. Harry S. Truman.C. Dwight D. Eisenhower.D. John F. Kennedy.2.During the 19thcentury, the great abundance of land compared to the availability of laborA. attracted millions of immigrants.B. encouraged early marriage and large families.C. encouraged rapid technological development.D. All of the choices are true.3.Which of the following is true?A. The Japanese rebuilt their economy after World War II by selling its goods to their own rapidlygrowing population.B.Slow U.S. population growth in the 19thcentury forced American farmers and manufacturers to seekforeign markets to propel its rapid economic growth.C.The Japanese rebuilt their economy after World War II by targeting the large U.S. market, while theirown market remained largely closed to U.S. manufactured goods.D. America's rapid population growth in the 19thcentury slowed its economic growth rate.4.The completion of the American national railroad network in the second half of the 19thcentury led to allof the following exceptA. that it enabled manufacturers to sell their products all over the country.B. mass consumption.C. increased prices of goods sold which led to more investment and more jobs.D. higher wages.5.Between 1939 and 1944 the United States' national outputA. remained the same.B. nearly doubled.C. nearly tripled.D. nearly quadrupled.6.The worst recession since World War II started in which year?A. 1957B. 1973C. 1981D. 20077.Which of the following explains the slower economic growth in the South compared to other regions ofthe country?A. Much of the South's capital, public and private, was destroyed in the Civil War.B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s all bypassed theSouth.C.The South remained an agricultural region after the Civil War instead of immediately becoming ahigher productivity manufacturing region.D. All of the choices are true.

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