US History Chapter 12

What do we call people who risk their capital in organizing and running a business?

• impresarios
• industrialists 
• practitioners
• entrepreneurs

Which of the following was one of the most famous and successful railroad consolidators during this era?

• Grenville Dodge
• Theodore Judah 
• Edwin Drake
• Cornelius Vanderbilt

When oil was discovered in Pennsylvania, who built oil refineries and eventually founded the Standard Oil company, which was the nation’s largest oil conglomerate?

• J.P. Morgan
• John D. Rockefeller
• Henry M. Flagler
• J. G. Wentworth 

What incident occurred in 1886 that badly hurt the Knights of Labor’s reputation?

• Great Railroad Strike
• formation of the American Federation of Labor
• Pullman Strike
• Haymarket Riot

Which Civil War-era Congressional legislation reversed years of declining tariffs, by nearly tripling the rates?

• the Entrepreneur Tariff
• the Morrill Tariff
•  the Western Tariff of 1864 
• the Consumption Tariff

Corruption in the railroad industry became public in 1872, when... 

• Jay Gould was caught cheating on his contracts.
• the Morrill Tariff was enacted.
• the Crédit Mobilier scandal erupted.
•  the time zones began regulating train schedules.

First introduced by the Standard Oil Company, a corporate trust is a legal arrangement that...

• allows one person to manage another person’s property.
• can only be created created by a will and arises after the death of the settlor.
• holds no property or financial resources, but rather confidence, faith and expectations.
• is an association of individuals in a business enterprise with transferable shares of stock.

Who claimed that after a workers’ revolution, the government would seize all private property and create a socialist society where wealth was divided evenly?

• Fascists 
• Marxists
• the Knights of Labor
• the Pullman Company

Which economic term is described as the total value of all goods and services produced by a country, regardless of where in the world the actual production process is taking place?

• Gross Base Spending
• Gross Domestic Product
• Gross National Product
• National Product Margin 

Which French phrase relating to economic systems means "let people do as they choose”?

• laissez-faire
• lequelle-sorcière 
• lequel mec
• laissez-moi tranquille