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Test Bank For Economics of Strategy 6th Edition David Besanko David Dranove Scott Schaefer Mark Shanley Isbn 9781118543238 Isbn 9781118441473 Isbn 9781118273630
Test Bank For Economics of Strategy 6th Edition David Besanko David Dranove Scott Schaefer Mark Shanley Isbn 9781118543238 Isbn 9781118441473 Isbn 9781118273630
Ans: c
Heading: Doing Business in 1840
Level: Easy
4. What significant transportation event brought about the first significant growth of the Great Lakes
region?
a) Harnessing of the steam engine
b) Invention of the screw propeller
c) Opening of the Erie Canal
d) Integration of railway system
e) Invention of the railway system
Ans: c
Heading: The World in 1840 – Conditions of Business in 1840: Life without a Modern Infrastructure –
Transportation
Level: Medium
5. What is throughput?
a) The movement of inputs and outputs through a production process
b) Assets that assist in the production or distribution of goods and services
c) A condition that determines the horizontal and vertical boundaries of business firms
d) An investment in the acquisition of raw materials
e) The amount of time for a good to travel between metropolitan areas
Ans: a
Heading: Example 4.1 – The Emergence of Chicago
Level: Hard
6. What mode of long-distance communication first laid the groundwork for today’s modern
communication forms?
a) U.S. Postal Service
b) Private mail service
c) Telegraph
d) Telephone
e) Railroad
Ans: d
Heading: The World in 1840 – Conditions of Business in 1840: Life without a Modern Infrastructure –
Communications
Level: Easy
7. What was the major role of private banks in the early 1800s?
a) Serve as an institution for deposits
b) Issue credit
c) Reduce the risk of price fluctuation
d) Create futures markets
e) Sell stocks
Ans: b
Heading: The World in 1840 – Conditions of Business in 1840: Life without a Modern Infrastructure –
Finance
Level: Medium
8. What was one of the first plant/factory types to use the “American System” of manufacturing?
a) Firearms
b) Steel
c) Oil
d) Automobiles
e) Chemicals
Ans: a
Heading: The World in 1840 – Conditions of Business in 1840: Life without a Modern Infrastructure –
Production Technology
Level: Medium
9. What economics game theory concept is demonstrated by the Erie Canal public works project?
a) Nash equilibrium
b) Lock-in
c) Backwards induction
d) Fair division
e) Prisoner’s dilemma
Ans: e
Heading: The World in 1840 – Conditions of Business in 1840: Life without a Modern Infrastructure -
Government
Level: Easy
10. What was the most significant development to the evolution of business circa 1910?
a) Railroad integration
b) Telegraph communication expansion
c) Banking and accounting standard practices
d) Mass-production technology
e) Advent of steam technology in railroads and shipping
Ans: d
Heading: The World in 1910 – Doing Business in 1910
Level: Medium
11. Which of the following led to overbuilding of railroads in the 1860’s and 1870’s?
a) Reduction of taxes on railroads by the federal government
b) The success of railroads in Europe
c) The availability of financing due to public optimism
d) The low cost of labor to construct railroads
e) Increases in regulated freight rates by the Interstate commerce Commission
Ans: c
Heading: Building the National Infrastructure – The Transcontinental Railroad
Level : Moderate
Ans: c
Heading: The World in 1910 – Doing Business in 1910
Level: Medium
13. What significant government infrastructure project led to the development of national stock and
commodity markets?
a) Transcontinental Railroad
b) Erie Canal
c) Union Pacific Railroad
d) Prime Meridian Conference
e) Central Pacific Railroad
Ans: a
Heading: Example 4.2 – Building National Infrastructure: The Transcontinental Railroad
Level: Medium
14. What firm is generally regarded as being the first to extensively use mass production processes?
a) IBM
b) Burroughs
c) Remington Rand
d) Ford
e) Sears
Ans: d
Heading: Business Conditions in 1910: A “Modern” Infrastructure – Production Technology
Level: Easy
15. What caused railway transportation to remain the primary transportation source over trucking until
World War II?
a) The country lacked of an interstate highway system
b) Rail consolidation was more extensive
c) Rail was faster, safer and more reliable
d) Railroads could carry goods a further distance
e) Companies preferred rail transportation for their goods
Ans: a
Heading: Business Conditions in 1910: A “Modern” Infrastructure – Transportation
Level: Easy
16. What form of communication was integral to the growth of multistory headquarter buildings?
a) Telegraph
b) Mail
c) Telephone
d) Morse code
e) Intercom
Ans: c
Heading: Business Conditions in 1910: A “Modern” Infrastructure – Communications
Level: Easy
17. What caused the market conditions facing the telephone to be uncertain until the 1880’s?
a) Patent conflicts
b) Technology problems due to unstable electricity supplies
c) Dissimilar technologies limiting interconnections between cities
d) Different state laws limiting interstate expansion
e) The high cost fo some components needed to manufacture telephones
Ans: a
Heading: Business conditions in 1910: A “Modern” Infrastructure – Communications
Level: Easy
18. Which of the following led to the development of the financial infrastructure pre- 1910?
a) The use of “Hollerith” or punched cards to storm information
b) The systemization and circulation of credit information
c) The telephone allowing consumers to easily apply for credit
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W. Ransom, $4,817.60; B. F. Rice, $3,200; T. J. Robertson,
$4,374.80; F. A. Sawyer, $4,294.40; George E. Spencer, $4,106; W.
Sprague, $4,508; W. M. Stewart, $1,486.40; J. P. Stockton, $4,790;
T. W. Tipton, $3,358; Lyman Trumbull, $3,980; G. Vickers, $4,880;
J. R. West, $2,468 80.
III.—Names of Senators who covered into the Treasury amounts
due them under retroactive provisions of law, with date of such
action.
There is no record in my office showing that any Senator covered
into the Treasury any money to which he was entitled by the
retroactive provisions of either of the acts of September 22, 1789,
March 19, 1816, January 22, 1818, August 16, 1856, or July 28, 1866.
The following Senators covered into the Treasury the amounts due
them under the retroactive provision of the act of March 3, 1873,
namely:
1873.—May 26, H. B. Anthony, $4,497.20; June 23, W. A.
Buckingham, $4,553.60; May 21, R. E. Fenton, $4,184; June 2, F. T.
Frelinghuysen, $4,644.80; May 19, H. Hamlin, $4,136; August 14, O.
P. Morton, $3,922.40; April 9, D. D. Pratt, $4,121.60; August 25, A.
Ramsey, $3,041.40; March 28, C. Schurz, $3,761.60; May 9, John
Scott, $4,733.06; July 11, John Sherman, $4,336.40; May 2, C.
Sumner, $4,445.60; May 22, A. G. Thurman, $4,359.20; March 28,
Henry Wilson, $4,448; September 6, George G. Wright, $3,140 80.
Note.—Several of these Senators, as well as others who have not
either drawn or covered into the Treasury the amounts due them
under the retroactive provision of the act of 1873, expressed to me
their intention to allow the money to lapse into the Treasury by the
ordinary operation of law, which they supposed would occur July 3,
1873. After learning that it could not be covered in, except by their
order, before July 3, 1875, some gave me written instructions to
anticipate the latter date. I am unable to furnish from any
information in my office the names of Senators who themselves paid
into the Treasury salary drawn under the act of 1873 or previous acts.
I have not furnished the names of Senators who have left increased
salary undrawn, as this information was not called for in the
resolution.
IV.—A Comparative Statement.
At the second session of the 42d Congress that body, and the
President as well, were compelled to consider a new question in
connection with politics—an actual conflict of State Governments.
There had always been, in well regulated State governments,
returning boards, but with a view the better to guard the newly
enfranchised citizens of the South from intimidation, the Louisiana
Republicans, under very bold and radical leaders, had greatly
strengthened the powers of her returning boards. It could canvass
the votes, reject the returns in part or as a whole of parishes where
force or fraud had been used, and could declare results after such
revision. The Governor of Louisiana had made several removals and
appointments of State officers for the purpose mainly of making a
friendly majority in the returning board, and this led to the
appointment of two bodies, both claiming to be the legitimate
returning board. There soon followed two State governments and
legislatures, the Democratic headed by Governor John McEnery, the
Republican by Governor Wm. Pitt Kellogg, later in the U. S. Senate.
Kellogg brought suit against the Democratic officers before Judge
Durell, of the Federal District Court, and obtained an order that the
U. S. Marshal (S. B. Packard, afterwards Governor), should seize the
State House and prevent the meetings of the McEnery legislature.
Then both governments were hastily inaugurated, and claimed the
recognition of Congress. The Senate Committee reported that Judge
Durell’s decision was not warranted, but the report refused a decisive
recognition of either government. A bill was introduced declaring the
election of Nov. 4, 1872, on which this condition of affairs was based,
null and void, and providing for a new election, but this bill was
defeated by a close vote. Later on, Louisiana claimed a large share in
National politics. Somewhat similar troubles occurred in Alabama,
Arkansas, and Texas, but they were settled with far greater ease than
those of Louisiana. The correspondence in all of these cases was too
voluminous to reproduce here, and we shall dismiss the subject until
the period of actual hostilities were reached in Louisiana.
The Grangers.
S. M. Cullom,
Speaker House of Representatives.
John Early,
President of the Senate.
John L. Beveridge,
Governor.
The same spirit, if not the same organization, led to many petitions
to Congress for the regulation of inter-state commerce and freight
rates, and to some able reports on the subject. Those which have
commanded most attention were by Senator Windom of Minnesota
and Representative Reagan of Texas, the latter being the author of a
bill which commanded much consideration from Congress in the
sessions of 1878–’80, but which has not yet secured favorable action.
In lieu of such bill Senator Cameron, of Pennsylvania, introduced a
joint resolution for the appointment of a Commission to investigate
and report upon the entire question. Final action has not yet been
taken, and at this writing interest in the subject seems to have
flagged.
The disastrous political action attempted by the Grangers in
Illinois and Wisconsin, led to such general condemnation that
subsequent attempts were abandoned save in isolated cases, and as a
rule the society has passed away. The principle upon which it was
based was wholly unsound, and if strictly carried out, would destroy
all home improvements and enterprise. Parties and societies based
upon a class, and directed or perverted toward political objects, are
very happily short-lived in this Republic of ours. If they could thrive,
the Republic could not long endure.
Supplementary Civil Rights Bill.
“Article —.
SHERIDAN’S REPORT.
New Orleans, January 10, 1875.
P. H. Sheridan,
Lieutenant-General.
JOINT RESOLUTION.
George F. Hoar,
W. A. Wheeler,
W. P. Frye,
Charles Foster,
Clarkson N. Potter,
William Walter Phelps,
Samuel S. Marshall.