Industrialization and Immigration Test Review

Total Control of an industry or business is known as:

• Monopoly

• Duopoly

• Triopoly

• Oligarchy

The Gilded Age got its name because:

• It was a Golden Age for All Americans

• On the outside it looked shiny, but underneath it was not so great

• Everyone struggled immensely

• The Upper Class included many people

laissez-faire

• opposed to government regulation of business

• government should control major industries

• government should be eliminated

• nations should avoid trade

Which of the following were reasons why massive profits were made by some during this time? Select All That Apply

• Monopolies and Laissez-Faire Economics

• Exploitation of workers

• Questionable business practices

• Government spending to stimulate industry

Monopolies create a more competitive economy

• True

• False

Monopolies can supply inferior products.

• True

• False

To stay on top, monopolies have a reason to keep innovating and make better products.

• True

• False

Monopolies lead to lower prices, and therefore fight inflation.

• True

• False

Philanthropy is used to: (Select All That Apply)

• improve the less fortunate's conditions

• provide help to those suffering

• improve the quality of life in the communities

• Make yourself wealthier

Workplace accidents were uncommon during the Gilded Age.

• True

• False