HIUS 360 Quiz Freedom

HIUS 360 Quiz: Freedom and Entrepreneurship

  1. The introduction of federal ___________ after the Panic of 1857 encouraged redundant, ill-planned, speculative building that created unsustainable (artificial) settlements due to the mere presence of railroad lines.
  2. After leaving the Middle Ages and abandoning a system of medieval feudalism, the English retained certain customary traditions that enabled them to carry forward a system of _______________________.
  3. Unlike Thomas Jefferson, Alexander Hamilton believed that in order for an economy to be productive, it needed to be ___________________.
  4. Why does 1% of history have 99% of human wealth?
  5. True or False: Growing tired of ruinous competition characterized by stock manipulation, the rapid resale of roads, and cooperative oligopolies, senior railroad executives met in 1854 at a large convention to agree “upon general principles which should govern railroad companies competing for the same trade.
  6. True or False: Slavery, as a business practice protected by state laws, provided unfair advantage against those employers not using slaves, and thus the economic incentives supported and sustained slavery within its sealed environment.
  7. According to Dr. Carey Roberts, almost everyone except those at the very top of the economic latter prior to 1800 continually faced what is referred to as “the three S’s,” consisting of:
  8. Railroads, with their rapid speed and phenomenal capital demands, ushered in a new era of business structure in which owners—consisting of thousands of stockholders who did not even know each other—delegated responsibility for running the business to _______________.
  9. What are the 3 “S’s” that marred economic output for most of human history?
  10. Whereas Britain learned to manage _____________, the United States learned to manage _________.
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