Sherman Anti-Trust Act

What year was the Sherman Antitrust Act passed?

• 1870

• 1880

• 1890

• 1900

Answer explanation

The Sherman Antitrust Act was passed in 1890, making the correct answer choice 1890.

Who was president when the Sherman Antitrust Act was signed into law?

• Benjamin Harrison

• William McKinley

• Abraham Lincoln

• Theodore Roosevelt

Answer explanation

Benjamin Harrison was the president when the Sherman Antitrust Act was signed into law, making him the correct choice among the options provided.

What was the main purpose of the Sherman Antitrust Act?

• To promote union activities

• To deregulate the railroads

• To break up monopolies and trusts

• To increase government subsidies for corporations

Answer explanation

The main purpose of the Sherman Antitrust Act was to break up monopolies and trusts.

Which president first used the Sherman Antitrust Act against the Northern Securities railroad trust?

• William McKinley

• Woodrow Wilson

• Benjamin Harrison

• Theodore Roosevelt

Answer explanation

Theodore Roosevelt was the president who first used the Sherman Antitrust Act against the Northern Securities railroad trust.

What economic philosophy did the government follow during the Industrial Age, according to the text?

• Socialism

• Mercantilism

• Laissez-faire economics

• Keynesian economics

Answer explanation

During the Industrial Age, the government followed the economic philosophy of Laissez-faire economics, as mentioned in the text.

What was one of the effects of monopolies and trusts in the 1870s and 1880s?

• Squashing of competition

• Expansion of small businesses

• Decreased prices for consumers

• Increased government regulation

Answer explanation

Monopolies and trusts in the 1870s and 1880s led to the squashing of competition, as these large entities dominated markets and eliminated smaller competitors.

What did the Sherman Antitrust Act declare illegal?

• All forms of business

• Any contract or combination in restraint of trade

• Union strikes

• Government subsidies to corporations

Answer explanation

The Sherman Antitrust Act declared illegal any contract or combination in restraint of trade, not all forms of business, union strikes, or government subsidies to corporations.

How was the Sherman Antitrust Act initially used?

• To promote free trade

• To lower prices for consumers

• Against unions

• To break up big businesses

Answer explanation

The Sherman Antitrust Act was initially used against unions to prevent them from engaging in activities that were deemed anti-competitive.

What change did Theodore Roosevelt bring to the use of the Sherman Antitrust Act?

• He ignored it completely

• He used it to support monopolies

• He used it to break up monopolies and trusts

• He repealed the act

Answer explanation

Theodore Roosevelt used the Sherman Antitrust Act to break up monopolies and trusts, not ignore it, support monopolies, or repeal the act.

What is the significance of the Sherman Antitrust Act according to the text?

• It led to the immediate breakup of all monopolies

• It was the first act signed by President McKinley

• It marked the end of the Industrial Age

• It was the first time the US government regulated business for public good

Answer explanation

The Sherman Antitrust Act was the first time the US government regulated business for public good, making it significant in the history of antitrust legislation.