American Economic History
1. Born out of wedlock in the British West Indies this artillery captain in the Continental Army became General Washington’s Aid de camp throughout the Revolutionary War. He was the first Secretary of the Treasury and was a notable proponent of the First Bank of the United States. He was killed in a duel with Aaron Burr not far from the present day entrance to the Holland Tunnel in New Jersey. He appears on the $10 bill. Who is he?
A) James Madison B) Henru Clay C) Alexander Hamilton D) Patrick Henry
2. An important political debate in the late 19th century dealt with US “greenbacks” that had been printed during the Civil War. Many, somewhat surprisingly, say that the Wizard of Oz is really an allegory for this political struggle. The historian Henry Littlefield identifies the two political candidates in the movie/play as:
A) The Wicked Witch of the West representing Teddy Roosevelt and the Wizard of Oz representing Allen Parker B) The Cowardly Lion representing Grover Cleveland and the Wizard of Oz representing Benjamin Harrison C) Dorothy representing Henry Cabot Lodge and the Wicked Witch of the West representing James G. Blaine D) The Cowardly Lion representing William Jennings Bryan and the Wizard of Oz representing the McKinley Administration
3. The Populist movement in the 1890’s proposed many modern economic policies long before many of them were implemented. Which of the following were proposed in the 1890’s by the Populists?
A) Social security and A graduated income tax B) Social security and federal regulation and ownership of railroads C) A graduated income tax and federal regulation and ownership of railroads D) All of the above
4. This American industrialist was one of the first victims of the Sherman Anti-trust act, the United States’ earliest and most used anti-trust laws. Beginning as a partnership in Cleveland, Ohio his company negotiated special rates with railroads and pioneered the “trust” form of corporate governance. He used his fortune to help found the University of Chicago, Spellman College (named after his wife) and a prestigious medical research university in New York named after him. He was also credited with eliminating hookworm in the American South. Who was he?
A) John D. Rockefeller B) Andrew Carnegie C) Henry Ford D) Andrew W. Mellon
5. Calvin Coolidge, the son of a Vermont farmer, came to the national stage after his handling of the 1919 Boston police strike. He is most well known for his laissez faire economic policies. However, as the son of a farmer, he had credibility with the agrarian community. He played on it by making the following quote about farm policy:
A) “Farmers are the lifeblood of this republic and, my friends, we have developed anemia.” B) “We say to you that you have been too limited in your definition of a businessman. Farming is the business of this nation; I will not see it wither and die.” C) “Telling a farmer what crops to grow is like telling a man which party to vote for. It must never be done.” D) “Farmers have never made much money, I do not believe we can do much about it.”
6. During the Great Depression, Franklin Roosevelt embarked on a program to get the United States back on its feet. It emphasized three goals, they were:
A) Jobs, Crops and Infrastructure B) Relief, Recovery and Reform C) Construction, Instruction and Production D) Construction, Cooperation and Dignity
7. An important part of the build up to WWII was the US’s increasing support of “Fortress Britain” during the Blitz on London in 1940 and 1941. Most famously the US exchanged which goods with Britain in exchange for which colonial vestiges?
A) Planes for railway contracts in India B) Destroyers for Caribbean bases C) Fighters for British Imperial Airways transport planes D) Tanks for radar bases in Canada
8. After the war, the US sought to break up the industrial “zaibatsu,” or plutocrats, that had ruled the Japanese economy since the opening of Japan during the Meiji period and which had contributed to the Japanese war effort. They were only partially successful, however, and many survive to the present day. What zaibatsu produced the Japanese “Zero” fighter planes that were used to attack Pearl Harbor?
A) Mitsubishi B) Toyota C) Suzuki D) Nissan
9. George Washington issued his farewell address as a public letter in 1796 warning against “entangling alliances.” Over 150 years later Dwight Eisenhower, another former general, issued his farewell address to the nation. He warned of another threat to the country, it was:
A) The spread of economic socialism in Britain B) The military-industrial complex C) “An iron curtain [that] has descended” across Europe D) The underfunding of higher education in the GI Bill
10. In 1981, a strike by this labor union placed a severe strain on national infrastructure and was broken by then president Ronald Reagan. Reagan’s action was widely considered a touchstone in late 20th century labor relations. Which labor union’s strike was broken?
A) United Auto Workers B) The National Postal Mail Handlers Union C) The United Transportation Union D) The Professional Air Traffic Controllers Organization Created with QuizScript