Unit 3: American Economy

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Exercise Ⅰ

I. Decide whether the following statements are true or false:

1. Alexander Hamilton was the third president of the United States.
　　(T / F)　　　Answer:

2. The first factory in the United States was a cotton textile mill.
　　(T / F)　　　Answer:

3.	Many people objected to the very idea of the corporation precisely because it is less personal than sole proprietorship and partnership.
	(T / F)　　　Answer:

4.	The United States suffered severely from the two World Wars in the 20th century.
	(T / F)　　　Answer:

5.	Many people believe that the economic freedom of capitalism is crucial to America's economic success.
	(T / F)　　　Answer:

6. When people buy stocks, they become part owner of the company.
　　(T / F)　　　Answer:

7. The stockholders make profits even when the company loses money.
　　(T / F)　　　Answer:

8.	One reason for America's affluence is that a lot of people have inherited wealth from their parents.
	(T / F)　　　Answer:

9. Strong domestic demand is one factor contributing to America's affluence.
　　(T / F)　　　Answer:

10. Many American leaders have extolled the virtues of farmers.
　　(T / F)　　　Answer: