Document Preview:

Macroeconomics
Homework Assignment
Chapter 1
Multiple Choice Questions

1. The Social Security Program began during the administration of A. Franklin D. Roosevelt.B. Harry S. Truman.C. Dwight D. Eisenhower.D. John F. Kennedy.E. Lyndon B. Johnson.

2. During the 19th century, the great abundance of land compared to the availability of labor A. attracted millions of immigrants.B. encouraged early marriage and large families.C. encouraged rapid technological development.D. All of the choices are true.

3. Between 1939 and 1944 our national output A. rose by 50%.B. nearly doubled.C. rose by 150%.D. nearly tripled.E. quadrupled.

4. Under President Eisenhower we had _____ recessions. A. noB. oneC. twoD. threeE. four

5. Which statement is true? A. In 1900 most Americans still lived on farms.B. Except for the stock market, most of our economy was depressed in the 1920s.C. There was a depression within three years after World War I.D. None of the statements are true.

6. The name of Andrew Carnegie is most closely associated with A. the steel industry.B. the rubber industry.C. the meatpacking industry.D. the chemical industry.E. the computer industry.
7. Which was a decade of high inflation and high unemployment? A. The 1920sB. The 1940sC. The 1950sD. The 1960sE. The 1970s
8. Between 1836 and 1851 travel time between New York and Chicago was cut from A. a month to two days.B. a month to a week.C. two weeks to one week.D. two weeks to two days.
9. The first automobile manufacturer to use a division of labor and to use a moving assembly line was A. Henry Ford.B. Henry Leland.C. Ransom Olds.D. Andrew Carnegie.E. Alfred Sloan.
10. Which statement is most accurate? A. Had the stock market not crashed in 1929, there would have been no business downturn in the early 1930s.B. Whether or not the stock market crashed, we definitely would have had a depression anyway.C. Had it not been for the speedy and powerful…