Chapter 17 Flashcards
During the last half of the 1800s, the dramatic industrial growth of the United States was caused by all of the following factors except
Low tariffs on imports
The steel industry emerged in
western Pennsylvania and eastern Ohio
The shipping of iron ore was made easier by
The invention of the steam engine
The purpose of the Bessemer-Kelly process was to
burn the impurities out of iron by blowing air through it
The initial development of the steel industry was most significantly aided by the
invention of Bessemer and open-hearth processes
The steel industry of the late 1800s prospered in all of the following states except
Arkansas
The Duryea brothers invented the
first gasoline-driven motor vehicle
The new method of management called “Taylorism” led directly to all of the following techniques except
vertical integration
Railroads contributed to the economic growth of the United States in all of the following ways except
by encouraging diversified control of the transportation industries
After the Civil War, the growth of railroads was aided by
subsidies from local, state, and federal governments
After the Civil War, the emergence of the modern corporation was aided by all of the following developments except
the success of pool arrangements among various companies
Andrew Carnegie rose “from rags to riches” by
cutting costs and prices for his products
The combining of a number of firms engaged in the same business, such as the merging of many different petroleum drilling companies into one company, is an example of
horizontal integration
John D. Rockefeller and other captains of industry engaged in the attempt to create monopolies through all of the following methods except
conglomerates
A holding company is a form of consolidation in which a
central corporate body formally purchases the stocks of various corporations
By the end of the 1800s, the use of pools, trusts, and holding companies by big business resulted in
a concentration of economic power in the hands of a few
The American public opposed the large corporations and their misuse of power on the grounds that they were
threatening Republican society
Despite the common belief in “rags to riches,” the power and wealth of most industrial tycoons were based on all of the following dubious practices except
abusing the public offices to which they were elected
The “Erie War” of 1868 involved a form of corruption in which businessmen
gave payoffs to members of the state legislature in return for their support of favorable legislation
The philosophy of Social Darwinism promoted the idea that
only the fittest individuals survived in a free marketplace
Social Darwinism is the
sociological theory that humans can progress only if left free to compete with one another, with the finest surviving and the unfit perishing
The philosophy of Social Darwinism appealed to some American businessmen because it justified their belief that
their business tactics were legitimate
Herbert Spencer argued that society as a whole, and business in particular, benefited when the weak were eliminated and the strongest and fittest were left to prosper. This theory is called
Social Darwinism