CHAPTER 7
Pre-Capitalism to Industrial Capitalism in the United States
1776 1865
MULTIPLE CHOICE
75. During the American colonial period, most exports to England were
a. textiles
b. agricultural products
c. guns and other weaponry
d. tea
76. What percent of the labor force worked in agriculture in American colonies?
a. 2%
b. 20%
c. 50%
d. 80%
77. What percent of the labor force worked in agriculture in the U.S. in 2000?
a. 2%
b. 20%
c. 50%
d. 80%
78. When the U.S. was still a colony, trade between the United States and England consisted of
a. the American colonies imported raw materials and exported manufactured products to
England.
b. the American colonies imported manufactured goods from England and exported raw
materials.
c. the American colonies were self sufficient and did not engage in trade with England.
d. both England and the American colonies exported manufactured products
79. What is the difference between a colony and a neo-colony?
a. A neo-colony has formal independence and no occupying troops but is still economically
dependent on the former colonial power.
b. A colony is one that existed during the 18th century. A neo-colony is a 20th century
colony.
c. A country becomes a neo-colony, when it is invaded militarily again after independence.
d. A neo-colony is separated from the surrounding area similar to a gated community.
80. What is the definition of a corporation?
a. A corporation is defined as a business that is owned by a single person.
b. A corporation is defined as a business that operates in more than one country.
c. A corporation is defined as a business owned by people who buy shares of stock.
d. A corporation is defined as a person that employs over 100 people.
81. A corporation is said to have limited liability. What does limited liability mean?
a. Investors are liable for the debts of the business only up to the total value of their
personal assets.
b. Investors are liable for the debts of the business only up to the value of their investment.
c. A corporation is not liable for its actions and cannot be sued.
d. Investors are protected against the loss of their investment in the business.
82. Which of the following would be considered an asset of the XYZ corporation.
a. the total value of outstanding XYZ corporate stock.
b. the total value of outstanding XYZ corporate bonds.
c. the total sales revenue earned by XYZ corporation in one year.
d. the value of the XYZ corporations buildings, machinery, and furnishings.
APPENDIX 7.1
Slavery in the United States, 1776 1865
1. Which of the following is one of the important differences in northern farms and farms in the
southern United States before the Civil War?
a. Farms in the north were, on average, much larger in size than those in the south.
b. Farms in the north were, on average, much more valuable than those in the south.
c. Farms in the north relied more heavily on slave labor than those in the south.
d. Farms in the north tended to have less productive land than the large plantations in the
south.
2. A direct cause of the Civil War was the attempt to expand slavery into the western United
States. Why did slave owners want to expand into the West?
a. The practice of planting only one crop tended to deplete the soil in the South.
b. The governments of some southern states began to outlaw slavery.
c. There were more slaves in the West than in the South.
d. Northerners were moving into the South, so the slaveowners had to move West.
3. What was the role of women in the Southern slaveowning culture?
a. women had equal rights and privileges as men.
b. women were allowed to own property but not slaves.
c. women had no rights or freedoms outside of their own households.
d. women tended to work outside the home more than Northern women.
4. What was the attitude of Northern industrialists toward slavery?
a. Northern industrialists strongly supported slavery and used slaves in many factories.
b. Northern industrialists opposed slavery for the North, but were in favor of allowing its
expansion into the West.
c. Northern industrialists strongly opposed slavery and also opposed its expansion into the
West.
d. Northern industrialists opposed the formation of the anti-slavery Republican Party and
remained staunch Democrats until the 1990s.