Gilded Age and Economic Concepts Flashcard

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The term "Gilded Age" originally suggested:

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A thin layer of wealth covering deeper social problems

Front

Laissez-faire economics primarily advocated for:

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Complete market freedom with minimal government intervention

Front

Which business strategy involved a company controlling every stage of production from raw materials to distribution?

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Vertical integration

Front

The Sherman Anti-Trust Act was primarily designed to:

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Prevent the formation of large corporate trusts

Front

John D. Rockefeller's business approach most exemplified:

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Aggressive market consolidation

Front

The "New South" concept represented:

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An attempt to modernize the Southern economy

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Theodore Roosevelt's foreign policy "Speak softly and carry a big stick" primarily suggested:

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Diplomatic negotiation backed by military strength

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The Transcontinental Railroad most significantly:

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Facilitated national economic integration

Front

Horizontal integration primarily involved: Merging with competing companies

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Merging with competing companies

Front

The social reality of the Gilded Age can best be described as:

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Significant economic growth with deep social inequalities