Gilded Age Industrialization Quiz

One effect of monopolies on the United States economy is that they have tended to

• reduce business competition

• keep prices low

• give consumers a greater choice in purchasing goods and services

• lead to a greater variety in the price for a particular product or service

During the period 1865–1900, government contributed to the growth of corporations mainly by

• giving them direct aid when they went bankrupt

• allowing them to develop with few restrictions

• providing low-cost housing for their workers

• buying large amounts of corporate stocks

A person who believes in the Social Darwinist theory of survival of the fittest would agree that

• poor people should get help from the government

• rich nations should give substantial aid to help poor nations

• individuals should succeed through their own efforts

• government should tax the rich to help the poor

The term “robber barons” is used to describe many industrialists of the late 19th century mainly because they

• made large charitable donations to worthy causes

• sought to maximize their profits by eliminating competition and exploiting workers

• attempted to stimulate the economy by keeping the prices of their products as low as possible

• opposed the entry of poor and uneducated immigrants into the United States

Which type of business organization is being criticized in this cartoon?

• monopoly

• multinational corporation

• partnership

• proprietorship

Who best completes this diagram?

• Jacob Riis

• Robert LaFollette

• Alger Hiss

• J.P. Morgan

What was Carnegie’s “Gospel of Wealth”?

• The concept that you should hoard as much money as possible because money = power

• The belief that the wealthy should put their money to good use serving others.

• The ideology that money should be devoted to upgrading your businesses so you can earn more money.

• The unselfish value system that dictates you should give away every penny that you have.

Who was the oil tycoon who created the Standard Oil Company

• Carnegie

• Morgan

• Rockefeller

• Vanderbilt

Cornelius Vanderbilt made his fortune in...

• Oil

• Railroads

• Textiles

• Banking

In which industry did Andrew Carnegie earn his fortune?

• Steel

• Railroads

• Banking

• Oil