Unit 6 Quiz 3

How did corporations become stronger during the Gilded Age? a) Many corporations began to invest their money in charitable organizations b) Many corporations began to ignore US politics, and look for foreign intervention c) Many corporations stayed independent and invested all of their earned money back into themselves d) Many corporations teamed up with other corporations to create monopolies, which often controlled the industry

This term is used to refer to a type of business organization created in the 19th century that was meant to eventually produce a monopoly. a) trust b) cartel c) laissez-faire d) pure competition

According to the "Gospel of Wealth" supported by Andrew Carnegie a) the government should play a major role in controlling the American economy b) a graduated income tax is needed to reduce the gap between the richest and poorest members of society c) the wealth and resources in a society should be equitably distributed among the members of that society d) the accumulation of wealth is beneficial to society and the government should take no action to hinder this accumulation

https://www.usatestprep.com/modules/gallery/files/19/1962/1962.jpg In the 19th century, John D. Rockefeller was MOST associated with the company named _______ a) U.S. Steel b) Standard Oil c) General Motors Corporation d) American Telephone and Telegraph

One of the main reasons John D. Rockefeller was able to succeed in the oil industry was because he a) encouraged competition b) treated his competitors fairly c) combined vertical and horizontal integration d) urged government regulation of the oil industry

How did the rise in the standard of living and new technologies affect women in the United States in the early 1900s? a) Women became nearly equal to men in the workplace, finding employment in many different fields and maintained duties at home b) Many women became free spirited, moved away from home at younger ages, and were publicly against marriage and child-bearing c) Women experienced very little change or increased equality, except the household responsibilities took less time, given the new products that were manufactured d) With new products available, household responsibilities were done in a faster and more effect manner, so some women got jobs outside the home, such as clerical work

Andrew Carnegie and J.P. Morgan both were "captains" of which industry? a) automobile b) communications c) oil d) steel

Which one of the following descriptions best describes "horizontal integration"? a) the economic development of the American west b) when the government controls the factors of production c) a company owns all the businesses that supply it with raw goods d) a company acquires competing businesses and merges them into a single entity

Which of these had the LARGEST impact on the growth of eastern American cities in the late nineteenth century? a) decreased immigration b) low-cost urban housing c) improved farming techniques d) expansion of the interstate system

https://www.usatestprep.com/modules/gallery/files/49/4945/4945.jpg Which labeled area was home to the growing meat-packing industry of the late-1800s? a) A b) B c) C d) D

John D. Rockefeller was able to monopolize the oil market, due to a) driving out or buying other oil industries; hiring only immigrants and former slaves, so he was able to pay workers far less money; received large investments from wealthy Americans that allowed him to excel quicker b) vertical consolidation- buying/driving out all other oil companies and/or entrepreneurs and horizontal consolidation- buying into all other industries needed to minimize costs, maximize profits, and dominate the oil market c) horizontal consolidation- buying/driving out all other oil companies and/or entrepreneurs and vertical consolidation- buying into all other industries needed to minimize costs, maximize profits, and dominate the oil market d) driving out or buying other oil industries; hiring only immigrants and former slaves, so he was able to pay workers far less money; invested money into the campaigns of major political leaders to avoid strict business laws

How did American industrial leaders accumulate wealth during the late 1800s? a) by inventing new technology b) by developing new farming techniques c) by using mainly slave or forced labor d) by creating monopolies and establishing trusts

What was a conclusion of the Depression of 1893? a) The Populists grew their following of the urban working classes b) The federal government adopted a silver as a standard of currency c) Both the Democrats and Republicans rallied around a strong economy d) New attitudes grew in society towards poverty and government responsibility emerged

The Interstate Commerce Act and the Sherman Anti-Trust Act both proved what role upon business and the economy? a) Both created price controls for the industry b) Both outlawed pricing controls for the industry c) Both created strong governmental regulations for dealing with corrupt business practices d) Both proved to be ineffective in the regulation of business abuses and economic controls

Which is the BEST description of the impact of capitalism and industrialization on the American public during the Gilded Age? a) During the Gilded Age, the South was still reeling from reconstruction and lacked economic stability and infrastructure b) With new conveniences, reasonably priced consumer goods, and relatively steady pay, Americans were better off than most of the world c) Because of the rise of monopolies during the Gilded Age, the American economy underwent periods of recession and depression that did not end until 1918 d) In the post-Civil War period, corporations became larger and more powerful through mergers and monopolies and had a greater influence on American politics

John D. Rockefeller was MOST affected by which of these? a) the Thirteenth Amendment b) the Sherman Antitrust Act c) the writings of Upton Sinclair d) the Supreme Court ruling in Gibbons v. Ogden

By creating monopolies and establishing trusts, industrial leaders of the late 1800s a) caused the Panic of 1893 b) secured passage of the Sixteenth Amendment c) were able to accumulate vast amounts of wealth d) secured the election of William McKinley as president in 1897