Ch 9 Sect 1 Quiz

people who risk their capital in organizing and running a business

• petroleum
• laissez-faire
• gross national
  product
• entrepreneurs

the total value of all goods and services produced by a country

• petroleum
• laissez-faire
• gross national
  product
• entrepreneurs

“let do,” a French phrase meaning “let people do as they choose”

• petroleum
• laissez-faire
• gross national
  product
• entrepreneurs

act that reversed years of declining tariffs

• petroleum
• laissez-faire
• Morrill Tariff
• entrepreneurs

resource that could be turned into kerosene

• petroleum
• laissez-faire
• Morrill Tariff
• entrepreneurs

Supporters of laissez-faire generally oppose subsidies and favor

•  tariffs.
• high prices
• free trade.
• monopolies

By the early 1900s, Americans had transformed the United States into the world’s leading

• gross national product.
• laissez-faire country
• industrial nation
• military establishment.

Who invented the telephone, which revolutionized both business and personal communication?

• Alexander Graham Bell
• Edwin Drake
• Thomas Alva Edison
• George Pullman

What were equally as important as natural resources in the nation’s rapid industrialization?

•  political systems
• new technology
• tariff laws 
• human resources

The first oil well was drilled near Titusville, Pennsylvania, by

• Alexander Graham Bell. 
• Thomas Alva Edison.
• Edwin Drake
• Elisha Otis