Final Review 1-20

Front

Which of the following was a key factor in the rapid economic growth of the Gilded Age? Laissez-faire economic policies, A decrease in the availability of natural resources, A decline in immigration, Government regulation of industry

Back

Laissez-faire economic policies

Front

During the Gilded Age, there was a/an ______ of wealth as business owners grew their companies.

Back

Accumulation

Front

What role did entrepreneurs play in the growth of American industry during the Gilded Age?

Back

They invested capital, organized businesses, and took on the risks of owning and operating companies.

Front

Which of the following industries was John D. Rockefeller most closely associated with? Coal, Railroads, Oil, Steel

Back

Oil

Front

What innovation made it possible for skyscrapers and railroads to expand across the nation?

Back

The Bessemer process (steel)

Front

Which entrepreneur was known for his efficient and cheap method of turning iron into steel?

Back

Andrew Carnegie

Front

What was the significance of the completion of the first transcontinental railroad in 1869?

Back

It connected the United States from the east coast to the west coast, creating a national market for goods.

Front

What was one negative consequence of laissez-faire policies during the Gilded Age?

Back

It allowed businesses to exploit workers.

Front

What were the typical working conditions for American laborers during the Gilded Age?

Back

Long hours, low pay, and dangerous working conditions

Front

What was the primary goal of capitalism during the Gilded Age?

Back

To make a profit