AMSCO Unit 5

What were 3 factors needed for Industrial growth

• Raw Materials

• Cheap Labor

• Government Regulation

• Efficient transportation

the belief that survival of the fittest applied to life and business

• Gospel of Wealth

• Social Darwinism

• Social Gospel

• Laissez-Faire Capitalism

American Federation of Labor intended to help workers by providing

• better pay and working conditions

• leading violent strikes

• removing employers from their positions

• creating radical political parties to combat robber barons

What were two ways monopolies were created during this era

• pools and trusts

• providing workers with adequate pay

• Federal Land grants and loans

• corruption schemes and stock watering

The Haymarket Square bombing led to

• better pay and conditions

• the downfall of the Knights of Labor

• the rise of more violent labor unions

• destruction of Capitalism

What invention led to the most productivity in American industry?

• Air Brak for trains

• the adding machine

• the light bulb by Edison

• Samuel Morse and the telegraph

Who wrote novels to celebrate the "rags to riches" opportunity in America?

• Mark Twain

• Adam Smith

• Andrew Carnegie

• Horatio Alger

Vertical Integration is

• bringing all competitors under one umbrella

• aligning all means of production

• creating pools in order to not compete with prices

• integrating your business management from boss to shift workers

What was the first attempt at federal regulation of big business and monopolies

• Clayton Anti-Trust Act

• Sherman Anti-Trust Act

• Labor Union creation

• Interstate Commerce Act

A major railroad corruption scheme involving President Grant was

• Stock Watering

• Teapot Dome Scandal

• Credit Mobilier

• Pullman Strike