Practice questions for Exam 1

Practice questions for Exam 1
Economic History of the United States (ECON 3100)
with Elaine Peterson

Use separate sheets as needed to answer each of the following:

1. Initial economic institutions have substantially influenced economic development in America. Agree or disagree and support your response.

2. Discuss population growth in Colonial America.

3. How is comparative advantage related to early American production?

4. Alice Hanson Jones research on colonial income and wealth has been extremely persuasive, based on her research and other relevant factors what can we say in comparing the relative well being of colonial Americans?

5. How was the American Revolution financed?

6. What are some of the economic factors that may have been contributing causes to the American Revolution?

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

8. Contrast the views of Francis Walker with those of Paul Uselding and his coauthor Larry Neal regarding immigration.

9. Easterlin's data suggest income and wealth are more unequally distributed by 1860 than in colonial times. Discuss some of the potential causes of this change.

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

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

12. Describe some of Hamilton's contributions to U.S. financial policies.

13. Are there any drawbacks to bimetallism?

14. Robert Fogel and Stanley Engerman's research on economic issues related to slavery has inspired substantial debate regarding a number of issues. Briefly discuss three of those issues.

15. Discuss the surprising findings of Richard Steckel's research on slave demographics.

16. Contrast Stanley Elkins' and Eugene Genovese's views regarding the persistence of slavery.

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

18. Discuss the costs of the civil war.

19. Describe the views of Roger Ransom and Richard Sutch regarding reconstruction.

20. In the video "Before the Industrial Revolution" we saw several production techniques used before mass production techniques were adopted. Briefly describe 3 of them.