HIUS 360 Quiz Progressive Control

HIUS 360 Quiz Progressive Control and Economic Liberty

  1. World War I accelerated many of the larger trends evident in American business history, such as ___________________________.
  2. Wartime controls in World War I subdued labor with the carrot-and-stick approach of controls and increased wages, while mollifying corporations by legalizing price-fixing in certain circumstances.
  3. The Food and Drug Administration heavily regulated ____________ by setting prices, diverting resources to be used by the war effort.
  4. _____________________ began as an early 20th century movement motivated by nationalism, perfecting society, and Darwinian evolution, believing that society could progress to perfection by placing societal power to an elite group of individuals.
  5. Almost overnight, the _________ made the real promise of a truly national market for goods and services, releasing Americans in the early 1900s from the tyranny of chronic poor weather, the injustice of local prejudices, and the inequality of restrictive labor markets, opening doors to business opportunity and social mobility.
  6. A good entrepreneur is America is one who reads markets signals, delivers goods and services by crossing social frontiers.
  7. Between 1874 and 1913, the United States experienced periodic economic panics of varying degrees of severity. During this period, Canada did not experience any visible economic panics. One explanation for this is more regulation on _______ in the United States.
  8. ____________________ limited on the number of branches a bank could have to one. This regulation harmed banks and depositors by centralizing risk within a small geographic area and economy.
  9. One negative effect of World War I on entrepreneur’s was that the expansion-oriented risk taker tended to be replaced with the conservative risk avoiders—men bent on sustaining a slow momentum of growth without realizing hat all momentum slows on its own.
  10. Until the late 1800s, in many quarters it was considered poor taste for businesses to promote themselves.
  11. In 1913, Congress passed a national income tax. In 1895, such as attempt was blocked by the Supreme court after ruling that the income tax was unconstitutional.
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