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Multiple Choice:
___ 1. The Jamestown colonists were drawn to the New World by:
a. economic motivation
b. desire for political freedom
c. desire for religious freedom
d. None of the above
___ 2. During America’s colonial era:
a. there was little economic growth due to British oppression
b. the population grew rapidly
c. the rapidly growing population hindered economic growth
d. All of the above
___ 3. By 1790:
a. there were nearly 4 million Americans
b. the standard of living in America was roughly the same as it is today
c. Both of the above
d. Neither of the above
___ 4. In 1960, GDP for the U.S. was $3,106 billion (measured at the 2009 price level) and the
population was 181 million. Per capita GDP in 1960 was:
a. $7,234
b. $12,700
c. $17,160
d. $28,380
___ 5. Most of the U.S. economic growth between 1790 and 1860 was caused by:
a. central planning by the U.S. government
b. the development of computers
c. growth in industrial productivity due to the Industrial Revolution
d. improvements in agricultural productivity
___ 6. Between 1860 and 1929, per capita output in the U.S.:
a. quintupled
b. doubled
c. increased by fifty percent
d. stayed the same
___ 7. Compared to 1790, the standard of living today is:
a. about the same
b. nearly three times as high
c. about five times as high
d. about fifteen times as high
___ 8. In the 20 th century, the poverty rate in the U.S.:
a. decreased from about 90% to about 12%
b. decreased from about 50% to about 10%
c. decreased from about 20% to about 15%
d. stayed the same
___ 9. In the 20 th century, life expectancy in the U.S.:
a. remained steady
b. decreased slightly due to the rising murder rate
c. increased by almost 10 years
d. increased by 30 years
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Intro - 7
A Brief History of U.S. Economic Growth