Industrial

What did horizontal integration, and the creation of monopolies reduce during the late 1800s?

• corruption

• competition

• big business

• interstate commerce

The growth of big business and free enterprise in the late 1800s resulted in:

• a reduction in child labor

• the elimination of the lower class

• the widening of the income gap between the rich and the poor

• a shift in transportation investment from railroads to canals

What was one of the main points of Andrew Carnegie’s “Gospel of Wealth”?

• Wealth was God’s reward for hard work, while poverty resulted from laziness and immorality

• Churches needed to take a stronger stand on the economic issues of the day

• Faith in capitalism and progress should take the place once reserved for religion

• Those who acquired great wealth were morally responsible to use it for the public good.

What is the message of this cartoon?

• The Captain of Industry should be credited with making the US a greater country

• John D. Rockefeller would make a great, powerful President of the U.S.

• The U.S. government had recently been investing a lot of money in Standard Oil

• Robber Barons control the U.S. government too much including having an effect on U.S. currency

Statement A: "The best way to economic recovery is to subsidize industry so that it will hire more workers and expand production."

Statement B: "If jobs are not available, the government must create jobs for those who are unemployed."

Statement C: "According to human nature, the most talented people will always come out on top."

Statement D: "Our government is responsible for the nation’s economic well-being."

Which statement from above is closest to the philosophy and ideology of Social Darwinism?

• A

• B

• C

• D

The Rockefeller Foundation, Carnegie Hall, the Morgan Library, Pittscairn Park, and Carnegie Mellon University illustrate various ways that entrepreneurs and their descendants have

• suppressed the growth of labor unions

• supported philanthropic activities to benefit society by donating to art and education.

• applied scientific discoveries to industry

• attempted to undermine the United States economic system

What can the term, monopoly best be described as?

• the most common form of business in the United States

• government control of the means of production

• an agreement between partners to manage a corporation

• a company that controls or dominates an industrial market economy.

What was an innovation factor that furthered industrialization in the U.S. between 1865 and 1900?

• the development and commercialization of the airplane

• the expansion of railroads across the United States

• the mass production of automobiles

• the widespread use of nuclear energy

Why were Antitrust laws such as the Sherman Antitrust Act passed by Congress?

• regulate and control the power of big business on the economy.

• encourage business market autonomy.

• encourage more immigration

• provide safer consumer products

What was one reason why John D. Rockefeller, Andrew Carnegie, and J. P. Morgan were sometimes called robber barons?

• robbed from the rich to give to the poor in order to help reduce the income wage gap.

• made unnecessarily risky investments that lost themselves and society millions of dollars of income

• used ruthless, cruel business methods against their competitors to put them out of business, and make themselves more money.

• stole money directly from the federal government’s vaults that led to an international outcry.