Chapter 4 Industrial Age

How did Andrew Carnegie keep production costs for his steel mills low?

• using assembly lines
• owning all businesses involved in each step of manufacturing
• purchasing machinery to produce steel instead of workers
• applying for government loans

Who invented the telephone?

• Thomas Edison
• Orville Wright
• Alexander Graham Bell
• Henry Bessemer

Which of the following is an example of Vertical integration in the movie business?

• acquiring studios, theaters, and TV stations involved in making movies
• arguing that the industry should be owned by actors, directors, and producers
• justifying business methods of only those naturally inclined to succeed

Who held more than 1000 patents and invented the light bulb?

• Alexander Graham Bell
• Lewis Latimer
• Thomas Edison

Why were monopolies criticized as unfair?

• prevent stockholders from controlling a corporation's policies
• give too much power to the president of the corporation
• raise prices and reduce quality of products
• illegally restrained production of products

The first light weight airplane invented by the Wright brothers was powered by?

• steam
• wind
• coal
• gasoline

Which Chicago event led to the weakening of the Knights of Labor and killed 8 police officers injured many?

• Haymarket Square Riot
• Homestead Stike
• Pullman Strikes
• Steelworkers' Strike

What option did stockholders have when owning shares?

• They must pay the corporations debts
• They can sell their stock shares at any time
• They make day-to-day company decisions
• They vote directly for the corporation president 

New technologies in the steel industry led to increased productivity in the _______?

• textile industry
• oil industry
• electricity industry
• railroad industry

The Sherman Anti-trust Act was a law passed by Congress in 1890 that ________.

• Allowed businesses to charge more than market value for products
• Protected the rights of laborers working for large corporations
• Prevented any corporation from creating a monopoly