1.
Henry Clay was the Senator of what state?
Correct Answer
A. Kentucky
Explanation
Henry Clay was a prominent American statesman who served as a Senator from Kentucky. He was known as the "Great Compromiser" for his efforts to find solutions to the sectional conflicts that eventually led to the American Civil War. Clay's long and influential career in politics, including multiple terms as Speaker of the House of Representatives, solidified his association with the state of Kentucky. Therefore, the correct answer is Kentucky.
2.
John J. Calhoun was the Senator of what state?
Correct Answer
B. South Carolina
Explanation
John J. Calhoun was the Senator of South Carolina.
3.
Interstate Commerce means trade between two or more states...
Correct Answer
A. True
Explanation
Interstate Commerce refers to the trade or exchange of goods, services, or money between two or more states within a country. It involves the movement of goods or services across state borders and is subject to federal regulations and oversight. Therefore, the statement "Interstate Commerce means trade between two or more states" is true as it accurately describes the concept of interstate trade.
4.
Dumping means what?
Correct Answer
B. Selling goods in another country below market prices
Explanation
Dumping refers to the practice of selling goods in another country at prices lower than their actual market value. This is often done in order to gain a competitive advantage over local producers and capture a larger share of the market. By selling goods below market prices, foreign companies can flood the market and potentially drive local producers out of business. This can have negative effects on the domestic economy and is considered unfair trade practice.
5.
Circuit means a route repeatedly traveled...
Correct Answer
A. True
Explanation
The statement "Circuit means a route repeatedly traveled" is true. A circuit refers to a path or route that is traveled repeatedly, often in a circular or looped manner. It can be used to describe a physical path, such as a race track or an electrical circuit, where current flows continuously in a loop. In a broader sense, circuit can also refer to a series of connected locations or events that are visited or experienced in a sequential manner.
6.
Daniel Webster was the Senator and Representative of ____________
Correct Answer
Massachusetts
Mass.
massachusetts
Explanation
Daniel Webster was both a Senator and Representative for the state of Massachusetts. Massachusetts is the correct and complete answer. "Mass." and "massachusetts" are variations of the correct answer and can also be considered correct.
7.
An agreement between two or more parties that can be enforced by law is what?
Correct Answer
D. Contract
Explanation
A contract is an agreement between two or more parties that is legally enforceable. It outlines the rights and obligations of each party involved and provides a framework for resolving any disputes that may arise. Contracts can be written or verbal, but it is generally recommended to have a written contract to ensure clarity and to provide evidence of the agreement.
8.
An economic system in which privately owned businesses compete in a free market is ________
Correct Answer
Capitalism
capitalism
Explanation
Capitalism is an economic system where privately owned businesses compete in a free market. It is characterized by private ownership of resources and the means of production, profit motive, and competition. In a capitalist system, individuals and businesses have the freedom to make their own economic decisions and pursue their self-interest. This promotes innovation, efficiency, and economic growth.
9.
Roads, bridges, and canals are what?
Correct Answer
A. Infrastructure
Explanation
Roads, bridges, and canals are examples of infrastructure. Infrastructure refers to the basic physical and organizational structures and facilities needed for the operation of a society or enterprise. These structures, such as roads, bridges, and canals, are essential for transportation, communication, and the overall functioning of a region or country. They are crucial for economic development and the smooth flow of goods, services, and people.
10.
Charter means what?
Correct Answer
B. A legal document giving certain rights to a person or company
Explanation
A charter is a legal document that grants specific rights and privileges to an individual or organization. It is a formal written contract that outlines the rights, responsibilities, and limitations of the charter holder. This document is commonly used to establish corporations, universities, and other entities, and it serves as a foundational document that governs their operations and activities.