Economic History of the United States Practice Questions for Final Exam Fall 2013

The actual final exam will consist of 8 questions drawn from this list of 20 practice questions. As discussed in class I will choose which 8 of these questions will be on the exam.  Once you have the exam you should then choose 7 of those 8 to answer.

1.      Discuss population growth in Colonial America.

2.      How was the American Revolution financed?

3.      How did Jefferson contribute to public policy regarding the distribution of public lands?

4.      Give an economic explanation of why the US was more inclined to technological innovations than the U.K..

5.      What are tariffs and how do they relate to the conflict between the Northern and Southern states?

6.      Are there any drawbacks to bimetallism?

7.      What does Robert Fogel mean by the "moral problem of slavery"?

8.      Discuss the costs of the civil war.

9.      Describe the radical change in growth for the South following the Civil War. How might this relate to institutional changes and changes in political power?

10.  How would Schumpeter describe US growth following the Civil War?

11.  What’s Engel’s law ? How does it relate to the changes in our economy, growth, comparative advantage, and the level of US international trade?

12.  Two presidents named Roosevelt helped promote the acceptance of unions. What did Theodore Roosevelt do in 1902 to promote unionism? More importantly what did Franklin Roosevelt do in the mid-1930s?

13.  What is meant by “redistributive justice”?  Do you think a case for redistributive justice could be made based on the practice of convict-leasing in the early 1900s?

14.  In 1929 the US had an unemployment rate of approximately 3.2%, or 1.6 million people unemployed, yet Hughes and Cain suggest we were at full employment. What do they mean by "full employment"?

15.  Compare and contrast stock market activity in October 1929, October 1987 and late summer 1998. What are some of the institutional differences that might influence the impact of market changes on the real economy?

16.  In what ways was economic warfare a part of W.W.II?

17.  Discuss inflationary pressures associated with W.W.II.

18.  What was the War on Poverty and how does it relate to The Affluent Society and The Other America?

19.  Why has the tertiary sector grown so much?

20.  How is the fiscal drag Kennedy worried about related to supply side economics?