7.1 The Gilded Age

Which of the following terms means a single company that controlled virtually all the U.S. oil production and distribution?

• conglomerate
• monopoly
• trust
• integration

What is the difference in vertical and horizontal integration?

• they are almost the same besides which industry they focus on
• vertical integration buys up oil while horizontal integration focuses on railroads
• horizontal integration buys up competition while vertical integration buys all steps along the production
• horizontal integration was used by Carnegie and vertical integration was used by Morgan

Which of the following was the first "big business" and what tycoon dominated the industry?

• Steel - Carnegie
• Railroads - Vanderbilt
• Oil - Rockefeller
• Finance - Morgan

Which of the following is correct in describing the entrepreneur and their "big business"?

• Andrew Carnegie = steel
• John Rockefeller = railroads
• Cornelius Vanderbilt = finance
• JP Morgan = oil

Rockefeller used horizontal integration, which means

• you buy up all parts along the production line.
• a trust controls your business.
• you sell at the top of the market to make the most profit.
• you buy out all competition.

What was the importance of the telegraph?

• the transfer of information is going to connect all regions of the U.S.
• money could now be transferred between individuals
• it allowed for mass production of newspapers and information
• it helped the South industrialize after the Civil War

Which of the following correctly describes the following cartoon?

• Carnegie Steel controlled all aspects of the government during the Gilded Age.
• JP Morgan was so greedy that his company "drowned" the banks and government.
• Standard Oil controlled banks, government officials, and workers during the Gilded Age.
• The philanthropic ways of men like Carnegie and Rockefeller helped everyone from workers to banks.

What does the term urbanization mean?

• mass influx of immigrants
• growth of cities
• movement toward farming and rural areas
• fear of immigrants

During the Gilded Age, where did most "new immigrants" migrate from?

• southern and eastern Europe
• Japan and other Asian nations
• Latin America
• the Middle East

Who was the leader of the American Federation of Labor?

• Jacob Riis
• Samuel Gompers
• Boss Tweed
• William Jennings Bryan