age of oil review

What caused the population "boom" in Beaumont, Texas? Population grew from 10,000 to 50,000 within a year.

• The cattle drive industry was prospering.

• The lumber industry producing more lumber for steel.

• Discovery of oil on a hill called Spindletop.

• Discovery of gold and other precious metals.

Oil was referred to as _________________________ since it had the power to make overnight millionaires.

• Crude Gold

• Crude Money

• Liquid Cash

• Black Gold

What nickname was given to towns that were created quickly due to the rush of people towards successful oil fields in Texas?

• "boom towns"
• "ghost towns"
• "oil towns"
• "rail towns"

In what year did oil drillers discover the first major oil field in Texas?

• 1901

• 1836

• 1865

• 1918

Who is the self taught geologist who invested his money in hiring the Hamel brothers and discovered oil at Spindletop.

• Patillo Higgins

• Fredrick Douglass

• John Adams

• Ben Jackson

A word that describes a time of high employment is what?

• Bust

• Boom

• Depression

• Recession

Oil led to an increase in what in Texas?

• Population

• Cities

• Jobs

• All of them

A word that describes low production and low employment is what?

• Prosperity

• Boom

• Bust

• Recovery

The process by which towns and cities are formed and become larger as more people begin living and working in central areas.

• URBANIZATION

• BUST

• INNOVATION

• REFORM

Alternate periods of high and low levels of economic activity in the business cycle.

• Boom and Bust

• High and Lows

• Ups and Downs

• Increase and Decrease