Chapter 4 (AB)

Which piece of legislation helped to create a national economy?

• The Pacific Railway Act

• Tenure of Office Act

• Military Reconstruction Act

• KKK Act

Which of the following was the most important invention of the 1st Industrial Revolution?

• Telephone

• Wind Powered Water Mill

• Steam Engine

• Automobile

Who controls a Free Market Economy?

• The People

• Large corporations

• A Central Bank

• The Fed Gov't

Laissez-Faire favors which of the following?

• Socialism

• Communism

• Libertarianism

• Capitalism

Tariffs are designed to do which of the following?

• Protect domestic industries

• Encourage imports over domestic products.
• Eliminate all trade barriers and restrictions.
• Increase foreign competition and lower prices.

A rising demand for products; like food & clothing, in cities led to

• 
  Increased Supply of Products

• 
  Lower Prices for Consumers

• Increased Profits for Producers

• Decreased Profits for Producers

Which of the following lead to massive population growth in the US (during the 2nd Ind. Revolution)?

• Massive Wave of Immigration

• Passage of the 13th Amendment

• The Compromise of 1877

• THe Morrill Tariff Act

Trains allowed manufacturers to sell their goods to MORE PEOPLE. DEMAND for their products increased. What happened to PRICE?

• No measurable change

• Prices Increased, Profits Increased

• Prices decreased, Profits decreased.

• Prices increased. Profits decreased.

Which types of jobs became more available in the US during the 2nd Ind. Revolution?

• Mining

• Manufacturing

• Fishing

• Farming

Which group was allowed to BENEFIT from the PATENT SYSTEM?

• State/Local Gov't

• Federal Gov't

• Inventors

• Consumers