USA Economy History Questions

May 1st, 2015
Price: $5 USD

Question description

  1. Describe the characteristics of an individual that would be more inclined to sign an indentured contract. What was the incentive for signing an indentured contract. What was the opportunity cost?
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  2. Suppose it takes New England two hours to produce a bushel of corn and six hours to produce a bushel of wheat. What is New England's opportunity cost of producing a bushels of corn?

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  3. How did the concept of strict constructionism affect the development of banking and transportation during the antebellum years?

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  4. What problems arose with the use of commodity money during the colonial years? How does fiat currency differ from commodity money?

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  5. If the market ratio of silver to gold is 14 to 1 and the mint ratio is 12 to 1, which will circulate as money? Explain.

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  6. How did the low female-to-male wage ratio in New England foster industrialization in the United States.

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  7. How did the American Tobacco Company use its monopsonistic power to its advantage?

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  8. Use the theatres as an example to explain the economic justification for discriminatory pricing.

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  9. You have organized your business as a sole proprietor. What two disadvantages might you encounter that the corporate form would not?

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  10. Differentiate between intrastate commerce and interstate commerce. What role did one, or both, play in Munn v. Illinois 1877 and Wabash v. Illinois 1866?

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May 1st, 2015
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