CCR U.S. History Unit 3 Part B

The term monopoly can best be describe as

• the most common form of business in the United States today.

• government control of the means of all production.

• an agreement between partners to manage a corporation.

• a company that controls or dominates an industry

One reason John D. Rockefeller, Andrew Carnegie, and J. P. Morgan were sometimes called robber barons was because they

• robbed from the rich to give to the poor.

• made unnecessarily risky investment.

• used ruthless business tactics against their competitors.

• stole money from the United States government.

Which term best describes the United States economic policy during the era of the rise of big business (1865-1900)?

• Mercantilism

• Communism

• Laissez-faire Capitalism

• Socialism

The 19^th century philosophy of Social Darwinism maintained that

• the government should have control over the means of production and the marketplace.

• all social class distinctions in the United States should be eliminated.

• economic success comes to those who are the hardest working and most competent.

• wealth and income should be more equally distributed.

Many wealthy American industrialists of the late 19^th century (1800s) used the theory of Social Darwinism to

• support the rise of labor unions.

• justify monopolies.

• promote legislation to establish a minimum wage and better working conditions.

• encourage charitable organizations to help the poor.

The Rockefeller Foundation, Carnegie Hall, and the Morgan Library illustrate various ways that entrepreneurs

• suppressed the growth of labor unions.

• supported philanthropic activities to benefit society.

• applied scientific discoveries to industry.

• attempted to undermine the United States economic system.

The Gospel of Wealth, written by Andrew Carnegie, promoted the concept that people with wealth should

• give aid directly to the poor.

• volunteer time to public welfare.

• donate the bulk of their wealth to religious institutions.

• use their wealth to help society indirectly (i.e., building libraries and schools).

What is the main idea of this cartoon?

• The Standard Oil Company was a harmful monopoly.

• The best way to develop major industries was to form partnerships.

• Government regulations were strangling the Standard Oil Company.

• Foreign competition in the oil industry was hurting American companies.

In the United States, the main purpose of the Sherman Antitrust Act is to

• protect the environment.

• increase competition in business.

• encourage the growth of monopolies.

• strengthen the right of workers.

The growth of big business in the late 1800s resulted in

• a reduction in child labor.

• the elimination of the upper class.

• the widening of the economic gap between the rich and poor.

• a shift in transportation investment from railroads to canals.