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“Value added” is defined as   a.  the price of the product multiplied by the quantity produced.   b.  total sales revenue divided by the quantity produced.   c.  total sales revenue minus sales taxes.   d.  the value of total product minus raw materials costs.

Monetary policy is primarily exercised by   a.  Congress.   b.  the President.   c.  the Federal Reserve.   d.  the Treasury Department.

“Automatic stabilizers” played a part in reducing the length and severity of the recession of 1953-54.  This term refers to   a.  deficit spending by the federal government.   b.  spending on education by local and state governments.   c.  programs like unemployment insurance and Social Security.   d.  actions by the Federal Reserve aimed at reducing interest rates.

One of the causes of World War I was _________.   a.  the deteriorating standards of living in Europe.   b.  the assassination in Serbia of Austrian Archduke Ferdinand.    c.  Europe had experienced several wars in recent decades that spilled over into World War I.    d.  the European working class was increasingly fractured and nationalistic.

_____________ is (are) the key factor in explaining the decline in death rates in the U.S. in the late 19th and early 20th century.   a.  Improved sanitation   b.  Improved medical treatments   c.  Urbanization   d.  A more varied and nutritious diet

The Beard-Hacker Thesis claims that postbellum economic growth in the United States   a.  was slowed by rapid immigration.   b.  was accelerated by rapid immigration from English speaking countries.   c.  was slowed by the formation of industrial monopolies.   d.  was accelerated by economic and financial changes generated by the Civil War.

Which region in the New World received the largest share of slaves brought to the New World?   a.  Brazil   b.  Colonial America   c.  Cuba   d.  Canada

Samuel Gompers is most recognized for:    a.  the invention of air brakes for trains.   b.  his role as an early union leader.    c.  invention of a steel manufacturing process.    d.  the development of refrigerated train cars. 

To pay for WW I, the national debt was expanded from ___ percent of GDP at the beginning of the war to ___ percent of GDP by the end of the war.   a.  1; 5   b.  2; 13   c.  3; 32   d.  The national debt did not expand due to reparations payments.

Which was not one of the main U.S. land acquisitions?   a.  Mexican Cession.   b.  Western Purchase.   c.  Gadsden Purchase.   d.  The Oregon Country.