SAT II US History : U.S. Economic History from 1899 to the Present

Study concepts, example questions & explanations for SAT II US History

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Example Questions

Example Question #41 : U.S. Economic History From 1899 To The Present

Many if not most Americans blamed __________ as the unwitting architect of the Great Depression.

Possible Answers:

Teddy Roosevelt

JFK

Herbert Hoover

FDR

Correct answer:

Herbert Hoover

Explanation:

Unfortunately for Hoover, almost all of America blamed him for the Great Depression, mainly due to the fact that the Depression occurred about eight months into his first term. The Great Depression was the result of a variety of factors, none of which are truly attributable to Herbert Hoover; however, Hoover often takes the fall because he steadfastly refused to take drastic steps to address the Great Depression.

Example Question #41 : U.S. Economic History From 1899 To The Present

"Supply-side economics" are most closely associated with the policies advocated by President ___________________.

Possible Answers:

Jimmy Carter

Franklin Delano Roosevelt

John F. Kennedy

Ronald Reagan

Richard Nixon

Correct answer:

Ronald Reagan

Explanation:

During the Great Depression and World War II, the Roosevelt administration spent large on government programs and grants, producing a large post-war economic boom that also produced a long time consensus in economic matters. This consensus began to shift during the large amounts of unemployment and inflation, a condition known as stagflation, in the 1970s. During his 1980 Presidential campaign and during his administration, Ronald Reagan successfully lobbied for Supply Side economics, which favored lowering taxes and deregulating businesses.

Example Question #29 : Facts And Details In U.S. Economic History From 1899 To The Present

The Federal Reserve Act __________.

Possible Answers:

accomplished very little because it was blocked by a Presidential veto

was intended by Woodrow Wilson to bust banking monopolies by creating a Federal institution to supervise banking practices and control currency and credit

called for the creation, within twenty years, of a new government institution to end racial inequality and injustice in the South

mandated that the Federal government had the power to regulate Trusts and monopolies to protect the American people from economic exploitation

greatly enlarged the reserve forces of the United States army so that the nation could call upon a greater number of trained soldiers in future large scale conflicts

Correct answer:

was intended by Woodrow Wilson to bust banking monopolies by creating a Federal institution to supervise banking practices and control currency and credit

Explanation:

The Federal Reserve Act was designed (at least according to most politicians of the time and the majority of modern historians) to bust the banking monopolies of JP Morgan and others. It directed that the banking system should be placed under public control. Banks remained private, but were now to be both supervised and supported by the newly created Federal Reserve Board. This allowed the government to better control currency practices and credit. 

Example Question #71 : U.S. Economic History

"I stand for the square deal. But when I say that I am for the square deal, I mean not merely that I stand for fair play under the present rules of the game, but that I stand for having those rules changed so as to work for a more substantial equality of opportunity and of reward for equally good service... When I say I want a square deal for the poor man, I do not mean that I want a square deal for the man who remains poor because he has not got the energy to work for himself."

The above quote most probably represents the political opinions of which President?

Possible Answers:
Franklin D. Roosevelt
Theodore Roosevelt
George Washington
Abraham Lincoln
Lyndon B. Johnson
Correct answer: Theodore Roosevelt
Explanation:

The Square Deal was Theodore Roosevelt's domestic policy. It centered on two main principles: The protection of the working and middle classes from corporate excess; The conservation of natural resources for the enjoyment of current and future generations. Roosevelt abhorred the manner in which the common American man was being used for the gain of a tiny minority of Capitalists. Although, the ideas are similar in nature to much of FDRs New Deal policies - the term "Square Deal" should be a dead giveaway that it is referring to Theodore. Although, had Theodore lived to see his kin institue the New Deal, there is no doubt he would have approved.  

Example Question #42 : U.S. Economic History From 1899 To The Present

“The business of America is business”

The above quote was most likely spoken by which President?

Possible Answers:

Jimmy Carter

Calvin Coolidge 

Abraham Lincoln

Woodrow Wilson 

John F. Kennedy

Correct answer:

Calvin Coolidge 

Explanation:

Calvin Coolidge believed that America was best served by prioritizing the interests of big business. He ran a Republican government that advocated a hands-off approach towards economic interference. 

Example Question #1 : Representative Viewpoints In U.S. Economic History From 1899 To The Present

“As a matter of personal conviction, and without pretending to discuss the details or formulate the system, I feel that we shall ultimately have to consider the adoption of some such scheme as that of a progressive tax on all fortunes, beyond a certain amount, either given in life or devised or bequeathed upon death to any individual—a tax so framed as to put it out of the power of the owner of one of these enormous fortunes to hand on more than a certain amount to any one individual; the tax of course, to be imposed by the national and not the state government. Such taxation should, of course, be aimed merely at the inheritance or transmission in their entirety of those fortunes swollen beyond all healthy limits.”

The previous quote can most likely be attributed to                   .

Possible Answers:

Franklin D. Roosevelt

Alexander Hamilton

Henry Clay

William Jennings Bryan 

Theodore Roosevelt

Correct answer:

Theodore Roosevelt

Explanation:

The quote is an excerpt from a speech given by Theodore Roosevelt in 1906. The speech is commonly known as “The Man with the Muck-Rake.” Roosevelt was a Progressive politician who argued for the usage of a graduated income tax and the implementation of an inheritance tax to limit the proportion of money that could be handed down from one generation to another.

Example Question #43 : U.S. Economic History From 1899 To The Present

"Reaganomics" generally refers to economic policies that favor __________.

Possible Answers:

stronger regulations on businesses and industry

lower taxes and business investment

the breaking up of monopoly power

nationalization of large industries

higher taxes and wealth redistribution

Correct answer:

lower taxes and business investment

Explanation:

Ronald Reagan's 1980 Presidential campaign saw a new fusion of various conservative political identities under the Republican banner. In economics, Reagan used his typically limited government view to advocate for lower taxes and less regulation of businesses. Within his first two years in office, he achieved signing a bill that required massive income and business tax cuts.

Example Question #44 : U.S. Economic History From 1899 To The Present

Theodore Roosevelt's domestic program centered on consumer protection, conservation, and corporate regulation was known as __________.

Possible Answers:

the New Deal

the Great Society

the Silent Majority

the Sixteen Points

the Square Deal

Correct answer:

the Square Deal

Explanation:

The presidency of Theodore Roosevelt was notable for being much more progressive than that of his predecessor, William McKinley, whose assasination promoted Roosevelt to the Presidency. Roosevelt promised a "Square Deal" for Americans. Notably, this involved "trust busting," or breaking up monopolies, a large effort to conserve natural resources, and various labor laws.

Example Question #6 : Representative Viewpoints In U.S. Economic History From 1899 To The Present

Which of the following statements is most representative of the thinking behind supply-side economics?

Possible Answers:

The wealthy should have a larger tax burden in order to pay down the budget deficit.

Labor unions should have more protections in their fights with large corporations.

Welfare and unemployment benefits should be increased to stimulate the spending power of the lower classes.

Tax breaks for large corporations will stimulate the economy by giving businesses more freedom to prosper.

Oil and natural gas companies should be more regulated to protect American citizens.

Correct answer:

Tax breaks for large corporations will stimulate the economy by giving businesses more freedom to prosper.

Explanation:

"Supply-side economics" gained their name from the fact they intended to benefit the suppliers of commercial goods, the businesses and manufacturers who made most of the products in the economy. Supply-side economics is most associated with President Ronald Reagan, who lobbied for massive tax cuts, deregulation of business, and large scale reduction of government spending. During Reagan's eight years in office, he managed to cut taxes, roll back corporate regulations, and slash welfare spending.

Example Question #7 : Representative Viewpoints In U.S. Economic History From 1899 To The Present

The U.S. Labor Movement supported all of the following EXCEPT __________.

Possible Answers:

an increase in profits for factory owners

an eight hour work day

restrictions on child labor

workplace safety laws

unionization of the workforce

Correct answer:

an increase in profits for factory owners

Explanation:

The "Labor Movement" was a broad grouping of activists that sought to protect the safety and rights of workers in a variety of working class jobs. Throughout the late-nineteenth century, the full flowering of the Industrial Revolution had produced a widespread manufacturing sector centered on factories that employed children as young as 4, and the work hours were usually between 12 and 15 hours a day, six days a week. The labor movement sought to protect workers' rights in a number of ways, including shortening work hours, eliminating child labor, and unionizing the workforce. Most of all, they stood against the businessmen who owned the factories.

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