JohnsonUS11.12.1

Supporters of laissez-faire economics believe the government should not interfere in the economy other than to protect private property rights and maintain peace.

• True

• False

The United States lacked the natural resources upon which industrialization in the 1800s depended, including water, timber, coal, iron, and copper.

• True

• False

Thomas Alva Edison stood as a symbol of the emerging age of technology with his invention of the telephone.

• True

• False

Machines could mass-produce shoes more cheaply and efficiently than local cobblers, so shoe production moved from small shops to large factories

• True

• False

The growth of the population between 1860 and 1910 provided industrialists with a large workforce and also created greater demand for the consumer goods factories produced.

• True

• False

Who began the first modern research laboratory, resulting in many new inventions, including the battery and the motion picture?

• Alexander Graham Bell

• Edwin Drake

• George Pullman

• Tomas Alva Edison

Supporters of laissez-faire generally favor

• Free Trade

• Government Protections

• High Prices

• Tariffs

The first oil well was drilled near Titusville, Pennsylvania, by

• Alexander Graham Bell

• Edwin Drake

• Elisha Otis

• Thomas Alva Edison

One reason for the country’s industrial success was its vast abundance of natural

• Resources

• Gross National Product

• Technology

• Enterprise

The total value of all goods and services that a country produces is called its

• Total economic indicator

• Gross national product

• Industrial index

• National income