Economics 1740 - Weber State University



Economics 1740 VERSION A - MARK ON YOUR SCANTRON ANSWER SHEET

Fall, 2002

Dr. Alston

Quiz #1, Walton and Rockoff, Chapters 1 & 2

1. The term “free rider”

a. refers to the reduction of incentives for an individual to provide effort.

b. describes the privatization of goods and property.

c. refers to a situation in which resources are overused and quickly exhausted.

d. describes people who did not pay for their ship travel to the colonial United States because their relatives would pay their fares once they arrived.

2. The term “tragedy of the commons” describes

a. how communal ownership of property leads to overuse and speedy exhaustion of resources.

b. the very difficult circumstances that the everyday citizens faced when they first arrived in colonial America.

c. how collective ownership of property produces a greater incentive for people to shirk, or work less than they otherwise would.

d. how establishing governments was very difficult in the initial settlements.

3. The racial profile of colonial South Carolina

a. was typical of the colonies as a whole.

b. was closer to that of the French and British West Indies than to that of its neighboring colonies.

c. was dominated by whites until nearly 1750.

d. indicates that it had a higher concentration of blacks than any colony except Virginia.

4. Which of the following is the most accurate statement about the Native Americans during the colonial period?

a. There is a strong consensus among historians about the size of the Native American population at the time of arrival of the first European settlers.

b. Native Americans rarely formed trading alliances with the European settlers.

c. The significant deterioration of the Native American population occurred after 1825, when the United States started to expand to the west.

d. The susceptibility to disease was one of the primary reasons the Native American population declined.

5. In the early colonial period, which region had the highest mortality rates?

a. the South

b. the Middle States

c. New England

d. Caribbean

6. From 1700-1780, the colonial population increased at a rate of approximately 3 percent per year. This rapid population growth was primarily due to

a. immigration from England.

b. immigration from central Europe.

c. higher birth rates in the colonies than in Europe.

d. importation of slaves from Africa.

7. Per capita GDP in the United States during the 20th century

a. has remained about the same.

b. increased until about 1970 and decreased since then.

c. was cyclical, but generally trending upward throughout the century.

d. grew very quickly for the first half of the century and grew at a much lower rate in the second half of the century.

8. Which is true about present day Americans who are at the official poverty level?

a. They have incomes about the same as those at the poverty level in 1950.

b. They have incomes about the same as those at the poverty level in 1900.

c. They have incomes about the same as those in the middle class in 1950.

d. They have incomes about the same as those in the top 5 percent of the nation in 1900.

9. Which is most accurate about those who were in the bottom fifth of the income distribution in 1975?

a. In 1991, about 85 percent of them were still in the bottom fifth of the income distribution.

b. In 1991, about 50 percent were still in the bottom fifth of the income distribution.

c. In 1991, about 25 percent were in the bottom fifth and another 25 percent were in the second poorest group.

d. In 1991, about 30 percent were in the richest fifth and another 30 percent were in the second richest group.

10. Which most accurately describes changes in America over time?

a. In 2000, Americans had to work much longer to pay for most basic foods like fruit, eggs, milk and coffee than they did in 1919.

b. During the 20th century, wages in the United States increased much more rapidly than prices.

c. The size and quality of homes has decreased substantially between 1956 and 1996, because home prices increased so dramatically.

d. In 1995, Americans spent much larger shares of their incomes on food and clothing than they did in 1901.

ANSWERS: Quiz No. 1, Econ 1740 Fall, 2002, Walton and Rockoff, Chapters 1 & 2, Version A

1. ANSWER: a. refers to the reduction of incentives for an individual to provide effort.

2. ANSWER: a. how communal ownership of property leads to overuse and speedy exhaustion of resources.

3. ANSWER: b. was closer to that of the French and British West Indies than to that of its neighboring colonies.

4. ANSWER: d. The susceptibility to disease was one of the primary reasons the Native American population declined.

5. ANSWER: d. Caribbean

6. ANSWER: c. higher birth rates in the colonies than in Europe.

7. ANSWER: c. was cyclical, but generally trending upward throughout the century.

8. ANSWER: d. They have incomes about the same as those in the top 5 percent of nation in 1900.

9. ANSWER: d. In 1991, about 30 percent were in the richest fifth and another 30 percent were in the second richest group.

10. ANSWER: b. During the 20th century, wages in the United States increased much more rapidly than prices.

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