Gilded Age PT 2

What industry did John D Rockefeller create a monopoly in?

• Oil Refineries

• Automobiles

• Telephones

• Steel

Andrew Carnegie and John D Rockefeller were know as robber barons because:

• they were like nobility, but they trampled on people to get rich.

• they robbed trains to get rich.

• they made their fortune by working through the night.

When a single group of people makes decisions for multiple companies and trade stocks, it is known as a:

• stock

• corporation

• monopoly

• trust

Vertical integration, a business strategy used by steel mogul Andrew Carnegie, involves _______.

• buying out raw material producers and distributors

• merging with companies producing similar products

• forming trusts

• used new methods to increase production

Which is NOT a characteristic of a business monopoly?

• encourage business competition

• rise prices

• put all competition out of business

• control all of a products' production

Which of the following occurred as a result of the Sherman Antitrust Act?

• Workers secured a greater share of company profits

• The influence of labor unions on factory owners was reduced

• The federal government could dissolve business monopolies

• Businesses were required to pay fees to open overseas location

During the late 19th century (1800s), most immigrants to the US found work as-

• Educated professionals

• Skilled workers

• Factory/sweatshop workers

• Scientists

What union formed in 1898, hoped to create a single union of skilled and unskilled workers, demanded an 8 hour workday, safety codes, better pay and organized strikes to get companies to grant their demands?

• AFL (American Federation of Labor)

• Knights of Labor

• Knights of Columbus

• Congress of Industrial Organizations