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2nd Industrial Revolution And The Gilded Age Flashcards

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AP® U.S. History flashcards
1
Q

Adam Smith wrote what?

A

The Wealth of Nations

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2
Q

What 2 books did Karl Marx write

A

Communist Manifesto and Das Kapital

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3
Q

What are split profits

A

Income minus expenses

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4
Q

What does gilded mean?

A

To have a thin layer of something precious like gold cover up something like wood

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5
Q

True or false: Pure free market has existed in the world

A

False

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6
Q

Who owns, makes decisions, and splits profits in a capitalistic economic system?

A

Individual investors or stockholders(corporations) own, the individual or stockholders make decisions, and stockholders split profits

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7
Q

What are some advantages and disadvantages of capitalism?

A

Advantages- generates more wealth than any other systems

Disadvantages- wealth is very unevenly distributed and there’s a huge wealth gap

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8
Q

In socialism who owns, makes decisions, and who splits profits?

A

Government owns and makes decisions, and splits profits

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9
Q

What are two types of socialism?

A

Democratic and Totalitarian Socialism

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10
Q

Describe Democratic Socialism

A

Places like Sweden. Govt owns most businesses . Free healthcare, free college education etc. for everyone. High taxes, was productive. Profits more equally divided

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11
Q

Define totalitarian socialism

A

No freedom – government controls all economic systems. Dictator controls government. People have no political or economic freedom. Places like the USSR, China, Cuba. Terribly unproductive

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12
Q

Chore false pure communism has existed in the world

A

False

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13
Q

Theoretically, who owns makes decisions and splits profits in a communist economic system

A

The people own make decisions and split profits

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14
Q

What is a disadvantage of communism

A

Potential he, it is unproductive because there’s no monetary incentive to work hard

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15
Q

The natural law of economics is described in what novel written by who. It is also based on the author’s views of the nature of man(evil/selfish)

A

The wealth of Nations written by Adam Smith

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16
Q

Self interest and competition together is called what

A

The invisible hand

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17
Q

The invisible hand gives 3 things. List them

A

1) The goals we need
2. in the quantity we desire
3. At the prices we are willing to pay

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18
Q

Theoretically the market will bounce all of these things by itself

A

Products-consumer
Prices-capitalist
Wages-worker

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19
Q

Who believes that the government show me intervene in the market to break up monopolies the government should not create which standards, protect the environment, will you leave product safety because the market will take care of this by itself

A

Free market capitalists

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20
Q

Who created the five dollar day plan

A

Ford

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21
Q

What four things in the second industrial resolution possible

A
  1. Labor supply-immigration
  2. New inventions
  3. New power sources
  4. New business structures
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22
Q

What and where is the Mesabi Range

A

It’s the largest amount of iron ore and her phone in the world in the 1880s located in Minnesota

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23
Q

What is the Bessemer process

A

Takes the carbon out of iron to make steel

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24
Q

What three inventions revolutionized women’s work in the Gilded Age

A

The telephone typewriter and sewing machine

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25
Q

Who was the man that applied social Darwinism to the economy

A

Herbert Spencer

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26
Q

How did the religion of the Puritans applied to the economic system during the Gilded Age

A

Puritanism justified the wealth gap because wealth was a sign of God’s favor. If you were poor that meant that God was unhappy with you

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27
Q

4/5 of businesses during the gilded age or what

A

Monopolies

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28
Q

This invention optical production from 33 million tons of 1870 to 250 million tons in 1900

A

Bessemer steel process

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29
Q

Christophers Shoals invented this in 1867

A

typewriter

30
Q

Alexander Graham Bell invented this in 1867

A

Telephone

31
Q

True or false: Carnegie Steel Company produced more steel than all the factories in GB

A

True

32
Q

Define social darwinism

A

Based on charles darwin’s theory of biological evolution

33
Q

What was the name of John D. Rockefeller’s company

A

Standard Oil Company

34
Q

The standard oil company owned 2/3 of crude oil in US true or false

A

True

35
Q

Describe the Sherman antitrust act

A

It made it illegal to form a trust that interfered with trade between states and countries. But the active not clearly defined would trust was so hard to enforce

36
Q

List five things that Thomas Edison did

A

Perfected the incandescent lightbulb, invented the phonograph, as that was the first electric power plant, the motion picture camera, the first research lab

37
Q

The airbrake for railroad cars was invented by whom

A

George Westinghouse

38
Q

Who is Granville woods

A

35 devices vital to electronic/communications such as the automatic circuit breaker electromagnetic break, etc. aka the black edison

39
Q

Henry Bessemer invented what

A

The Bessemer process

40
Q

What is the transatlantic cable

A

Underwater cable

41
Q

Who was Henry Ford

A

Electrical engineer, A stab Lish the Ford Motor Company, use the assembly line in his company which made cars one fourth of the price is it was 10 years earlier, also use the five dollar day plan so that workers could afford to buy his cars

42
Q

Why are the DuPont’s important

A

They played a major role in the chemical industry. Manufactured gunpowder and had a monopoly in the industry. Broaden the horizons into fertilizers and dies and etc.

43
Q

Who was James Duke

A

The owner of a North Carolina tobacco company. Also licensed the bond sex machine. His tobacco company was a global success

44
Q

Christopher Shoals invented what

A

The typewriter

45
Q

These prevented spoilage and fresh meat milk etc.

A

Tin cans

46
Q

These made it possible to ship perishables greater distances and preserve them for longer periods of time

A

Railroad refrigerator cars

47
Q

Chinese exclusion act was in what year?

A

1882

48
Q

What is vertical integration

A

Owning all the steps in the production process of a good

49
Q

What is horizontal integration

A

Owning all of the competition

50
Q

What is a holding company

A

Company created to Byam possess the shares of other companies which it then controls

51
Q

Who was Andrew Carnegie

A

Founder of the Carnegie steel company that used the bessemer process and also practiced vertical integration

52
Q

Who was John D Rockefeller

A

Founder of the standard oil company and also had a monopoly on the oil industry

53
Q

What was the Homestead strike

A

And AFL affiliated union protest against the current steel company. Henry see for hired Pinkertons to fight the union a bloody 12 hour long battle occurred the Pinkerton surrendered. Occurred in 1892

54
Q

When was the Homestead strike

A

1892

55
Q

What was the Pullman strike

A

Workers at the Pullman Palace car company protested against the policies in Pullman’s town workers went on strike which made pullman close the factory. Workers refused to handle any trains with the Pullman car attached to it which interfered with the distribution of mail. The National Guard was then sent in

56
Q

Who was Jacob Riis

A

The journalist and reformist

57
Q

Who was Cornelius Vanderbilt

A

One of the 400 in Newport who had a huge summer home

58
Q

What was the weekly wage for women and children during the Gilded Age

A

At lowest around a dollar and $.56 per week

59
Q

What was the weekly wage for men during the gilded age

A

Roughly about seven to $10 per week

60
Q

How many workers were killed during the triangle shirt waist factory fire

A

146

61
Q

Where was the triangle shirt waist factory fire located

A

New York City

62
Q

A majority of the workers at the triangle shirt waist company were what

A

Teenage immigrant girls

63
Q

According to John Green there were ____________ industrial deaths each year during the Gilded Age

A

300,000

64
Q

The Knights of Labor allowed ________ and ________ workers as well as women, immigrants, African Americans, however excluded the _________

A

Skilled and unskilled workers. Excluded the chinese

65
Q

The American Federation of Labor allowed ________ workers but excluded Women, blacks, unskilled laborers, etc

A

Skilled

66
Q

Industrial Workers of the World(IWW) allowed all laborers of all races who were excluded from craft unions true or false

A

True

67
Q

Name an example of an universal union

A

Knights of Labor

68
Q

Name an example of an industrywide union

A

ILGWU(International Ladies Garment Workers Union)

69
Q

List a craft union

A

AFL(American Federation of Labor)

70
Q

Give an example of a socialist union

A

IWW(Industrial workers of the World)

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