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IND 123 MIDTERM CERTIFICATION SCRIPT 2026 QUESTIONS WITH SOLUTIONS GRADED A+

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IND 123 MIDTERM CERTIFICATION SCRIPT 2026 QUESTIONS WITH SOLUTIONS GRADED A+

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IND 123
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IND 123

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IND 123 MIDTERM CERTIFICATION
SCRIPT 2026 QUESTIONS WITH
SOLUTIONS GRADED A+

◍ Hobbes.
Answer: Government authority is legitimate if people voluntarily submit to
itBorn during spanish armada Born twin of fearSolitary, nasty, poor, brutish,
etc.All conflict over equalityCompetition, diffidence, gloryBetter to trade
liberty for security (social contract)materialist : doesn't believe it soulsEqual
in ability to kill each otherLeviathan: power of church and state (sword and
crosier)Solution: monarchy
◍ Locke.
Answer: State of nature is not warHas law of nature to govern itRight to
execute the law/judgeWe belong to God alone1) divine workmanship (God
made us so we are all equal)2) body ownershipSpoilage limitIn state of
nature no objective judge/laws/executive
◍ Rousseau.
Answer: believed people in their natural state were basically good but that
they were corrupted by the evils of society, especially the uneven
distribution of propertyH and L looked at 17th Century artificial English
manNeeded to look further backRise of inequality started from tools,
shelterPrivate propertyMetaliurgy and agriculture1st revolution bonds of
familySolution: radical absolutist democracy Guided by two basic instincts
self preservation and compassion Humans are not naturally violent or
competitiveNatural vs moral inequality Humans differ from animals because
of perfectibility (ability to improve and change)
◍ What is mercantilism?.
Answer: Mercantilism is a state-centered economic theory where national

, power comes from controlling trade and colonies, securing strategic goods,
and strengthening shipping and manufacturing.
◍ American Folkways.
Answer: First settlement in America was Jamestown, VA (pilgrims)Not in
s.o.n the way H and L perceived it, aren't just floating around in a lawless
conditionFolkway: linguistic patterns, religious beliefs,
architectural/material/culture, marriage, and family structuresMost diverse
city in the world because of trading: New Amsterdam
◍ How did mercantilism motivate European exploration of the Americas?.
Answer: Mercantilism pushed European exploration and colonization to
obtain raw materials and captive markets.
◍ Puritans/Yankee (wave of immigration).
Answer: Wanted to purify anglican churchJohn WindryCity on a hill Ideals
of civic unity and self ruleNot really tolerantHomogenous for safetyPuritan
Boston: work ethic, community, hierarchical structure
◍ What were the Navigation Acts?.
Answer: The Navigation Acts were economic restrictions imposed by
Britain to force colonial trade through British ships and ports, limiting trade
partners for the colonies.
◍ What were the main sources of economic growth in the colonial era?.
Answer: Growth sources included rapid population increase, productivity
gains in tobacco and grain/livestock, and institutional/market development.
◍ What were the main sources of economic growth from the American
Revolution to the Civil War?.
Answer: Growth sources included westward migration/settlement and the
reallocation of production to land-abundant regions, the transportation
revolution, and regionally specialized expansion.
◍ How did land policy evolve in early America?.
Answer: Land policy evolved from land grants like headrights to more
liberal policies that reduced minimum lot sizes and protected squatters'

, claims.
◍ How did land policy impact wages in early America?.
Answer: Abundant land raised labor's outside options, contributing to
relatively high wages and attracting labor and migrants.
◍ What was the impact of land policy on economic growth patterns?.
Answer: Liberal access to land encouraged extensive growth and shaped
regional specialization, making transportation investments valuable.
◍ Cavalier/Southern in VA.
Answer: Hierarchical agrarianismMore in line with Anglican
churchRoyalists (typically younger sons of aristocrats)Feudalism turns into
race based society
◍ Quaker/Midlands in PA.
Answer: Tolerance and religious freedomEqualityQuaker Philadelphia:
equality, pacifism, Inner Light
◍ Borderlanders.
Answer: Least powerful when they arrivedRefugees, suspicious of
government, individualismScotch Irish
◍ What types of commodity money were used after the Revolutionary War?.
Answer: Commodity money and specie were used as they were widely
accepted stores of value and provided credibility when trust in paper money
was weak.
◍ What was the banking design after the Revolutionary War?.
Answer: The early banking system was a mixed public-private model,
exemplified by the First Bank of the United States, which issued notes and
held specie reserves.
◍ What were the political and economic issues surrounding banking changes?.
Answer: Banking was polarizing; agrarian regions viewed tight credit as
hostile to farmers, while financial interests opposed the Second Bank for
competitive reasons.

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