1. Since 1933, legal tender in the United States has been which of the following? Select all that apply.

Group of answer choices

None of these!

Federal Reserve Notes

Bank Notes

Gold

Greenbacks

Silver

2. The mid-19th century tariffs likely harmed which of the following, on net? Select all that apply.

Group of answer choices

Urban consumers

Factory owners

Midwestern farmers

Southern planters

3. Suppose a new source of gold is discovered. This would likely cause ___.

Group of answer choices

inflationary pressures

no change in prices

deflationary pressures

4. "Banks in an unregulated system usually maintain a reserve ratio above zero."

Group of answer choices

True

False

5. Which of the following increases per capita income? Select all that apply.

Group of answer choices

Greater capital stock

None of these!

Greater TFP

Greater population

6.

Consider the diagram below, which illustrates the transportation market of the United States with two different technologies, water transport (w) and railroad transport (rr). The marginal costs of each are depicted. The demand curves for transportation services in 1820 and 1890 are both depicted. P. MC $11 $10 MCw $9 $8 $7 $6 $5 $4 $3 $2 D1890 $1 D1820 $0 Q 0 300 90 1,000 1, 100 All else equal, find the social savings to the American economy in 1890 from railroads. 200