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econ 1740 hw 2 quiz || with 100% Errorless Answers.
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1. Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________. a. better; of favorable protections from England b. better; of high levels of output per worker. c. worse; of unfavorable taxation d. worse; of...

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  • August 16, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
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  • 1 residents of the developing american colonies l

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  • Econ 1740

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econ 1740 hw 2 quiz || with 100% Errorless Answers.
1. Residents of the developing American colonies lived _______ lives compared to people living
in the advanced countries of that time because ________.
a. better; of favorable protections from England
b. better; of high levels of output per worker.
c. worse; of unfavorable taxation
d. worse; of the inaccessibility of both capital and finished machine goods. correct answers b

2. All of the following were important colonial industries except:
a. fishing and fish packing
b. production of ships' stores
c. manufacturing of finished iron goods
d. shipbuilding correct answers c

3. Agricultural staples of the colonial South included
a. rice.
b. tobacco.
c. indigo.
d. All of the above. correct answers d

4. Colonial production of tobacco satisfied England's mercantilist interests because
a. it provided a substitute for imported Spanish tobacco.
b. its poor quality discouraged English youth from smoking.
c. it provided a good that could be taxed by the English.
d. it ensured that the colonists would remain dependent on England for food. correct answers a

5. In the English market, colonial tobacco was ______________ Spanish tobacco.
a. more expensive than
b. less expensive than
c. priced similarly to
d. more heavily taxed than correct answers b

6. ___________ was an ideal supplement to rice farming in the colonies.
a. Indigo
b. Tobacco
c. Wheat
d. Ship building. correct answers a

7. Goods commonly produced by colonial households included
a. clothing.
b. bread and hardtack.
c. beer and whiskey.
d. jellies and jams.
e. All of the above. correct answers e

, 8. Although large-scale manufacturing was not characteristic of colonial economic activity,
___________ was an important exception.
a. steel production
b. shipbuilding
c. cotton textile production
d. fish canning correct answers b

9. The colony of Georgia was established in 1732. During the colony's early years,
a. each arriving settler received a 50-acre farm.
b. cotton plantations were the primary source of income.
c. the slave population assisted free colonists in defending the Georgia-Florida border.
d. the slave population exceeded the free population.
e. All of the above. correct answers a

10. According to the principle of comparative advantage,
a. a country will benefit by specializing in the production of goods in which it has a relatively
low opportunity cost.
b. a country will benefit by specializing in the production of goods in which it has a relatively
high opportunity cost.
c. a country will benefit by importing goods in which it has a relatively low opportunity cost.
d. a country will benefit by becoming economically self-sufficient. correct answers a

11. During the colonial period, "enumerated goods" included
a. tobacco.
b. sugar.
c. indigo.
d. cotton.
e. All of the above. correct answers e

12. Which of the following regions obtained most of its imported goods from the United
Kingdom?
a. the New England colonies
b. the Middle colonies
c. the upper Southern colonies
d. the lower Southern colonies
e. All of the above. correct answers e

13. In 1776, ______________ was the most populated colonial city.
a. New York
b. Philadelphia
c. Charleston
d. Boston correct answers b

14. During the colonial period, the largest cities were typically
a. port towns.
b. located in the hinterland.

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