Standard 4 Flashcard 3 - Big Business and reform

Front

What is another word for "trust" as it is used in the phrase "anti-trust" laws?

Back

monopoly

Front

The idea that business should be free from government regulation best represents which system? Options: Social Darwinism, capitalism, laissez-faire, socialism

Back

laissez-faire

Front

Why do some historians label John D Rockefeller and other big businessmen of the Gilded Age as "Robber Barons"?

Back

They were ruthless competitors who cheated and exploited workers.

Front

How did organizing a trust enable industrialist such as John D Rockefeller to accumulate wealth and power?

Back

It gave one group of men control over most of the companies in an industry.

Front

How did the ideas of Social Darwinism impact the economic culture of the United States in the late 1800s and early 1900s?

Back

It justified the growth of large businesses at the expense of smaller businesses.

Front

How did the use of horizontal and vertical integration impact the growth of industry in the U.S.?

Back

It allowed large companies complete control of the production of many natural resources.

Front

The passage of the Sherman Antitrust Acts demonstrated which idea?

Back

The United States began to move away from laissez-faire economic policies at the turn of the century.

Front

Why were many Americans opposed to labor unions in the late 1800s?

Back

They believed unions were controlled by violent extremists.

Front

What relationship existed between big business and government leaders based on the political cartoon by Joseph Keepler published in Puck in 1889?

Back

Big businesses controlled the actions of government leaders.

Front

This political cartoon was published during the Industrial Age. How did the federal government respond to the situation in the cartoon?

Back

It increased regulations on monopolies and trusts.