Topic_9_Triumph_of_Industry

Which of the following helped fuel economic growth by encouraging people to buy American goods?

• Monopolies

• Patents

• Protective Tariffs

• Laissez Faire

Steel changed people's lives by making possible the . . .

• Invention of the radio

• Construction of skyscrapers

• Development of electricity

• Establishment of time zones

A cartel differs from a monopoly in that . . .

• One corporation has complete control of a product or service

• Businesses making the same product agree to limit production

• One firm sets the prices for all goods in an industry

• All the firms involved in the same business merge into one entity

Cartels, monopolies, trusts, and horizontal and vertical integration all share the goal of . . .

• Driving up costs

• Raising wages

• Increasing profits

• Combining resources

Capitalism fueled industrialization by . . .

• Requiring inventors to file patents

• Encouraging entrepreneurs to establish businesses

• Giving the country many natural resources

• Ensuring that all workers received high wages

Which innovation extended the number of hours in a day that Americans could work and play?

• Bessemer process

• Telegraph technology

• Refrigeration

• Electricity

Which industry most spurred economic growth and innovation in related industries?

• Railroads

• Food

• Oil

• Steel

As farms became mechanized . . .

• Immigrants bought more land

• More people became farmers

• Farmers moved to urban areas

• Farm workers became rural entrepreneurs

The Sherman Antitrust Act imposed limitations upon which group?

• Farmers

• Congress

• Large corporations

• Small-business owners

Corporations had the important advantage of . . .

• Being run by an individual or a family

• Developing into monopolies

• Reducing the financial risk for individual investors

• Keeping prices high