Final Review 1-20

Which of the following was a key factor in the rapid economic growth of the Gilded Age?

• Laissez-faire economic policies

• A decrease in the availability of natural resources

• A decline in immigration

• Government regulation of industry

During the Gilded Age, there was a/an ______ of wealth as business owners grew their companies.

What role did entrepreneurs play in the growth of American industry during the Gilded Age?

• They discouraged the use of new technologies as the old ways were tried and true being tested for decades

• They worked to improve working conditions for laborers because working conditions were their first priority.

• They invested capital, organized businesses, and took on the risks of owning and operating companies.

• They advocated for greater government regulation of industry.

Which of the following industries was John D. Rockefeller most closely associated with?

• Coal

• Railroads

• Oil

• Steel

What innovation made it possible for skyscrapers and railroads to expand across the nation?

• The telegraph

• The steam engine

• The telephone

• The Bessemer process (steel)

Which entrepreneur was known for his efficient and cheap method of turning iron into steel?

• Cornelius Vanderbilt

• Andrew Carnegie

• J.P. Morgan

• John D. Rockefeller

What was the significance of the completion of the first transcontinental railroad in 1869?

• It caused a decrease in immigration to the United States due to the high cost of the railroad.

• It connected the United States from the east coast to the west coast, creating a national market for goods.

• It slowed down the pace of industrialization due to the government regulation that got in the way.

• It led to a decline in the demand for steel because the railroad used all the available steel.

What was one negative consequence of laissez-faire policies during the Gilded Age?

• It discouraged the growth of labor unions.

• It led to a decline in industrial production.

• It resulted in higher taxes for businesses.

• It allowed businesses to exploit workers.

What were the typical working conditions for American laborers during the Gilded Age?

• Safe and healthy with high wages

• Long hours, low pay, and dangerous working conditions

• Moderate hours, average pay, and safe working conditions

• Short hours, high pay, and excellent benefits

What was the primary goal of capitalism during the Gilded Age?

• To create a classless society

• To promote social equality

• To protect the environment

• To make a profit