Chapter 22 Flashcards
The national government helped to finance transcontinental railroad construction in the late nineteenth century by providing railroad corporations with
a.
cash grants from new taxes.
b.
land grants and loans.
c.
cash grants from higher tariffs.
d.
reduced prices for iron and steel.
e.
aid for construction of railroad stations.
B
The greatest economic consequence of the transcontinental railroad network was that it:
a. spread the U.S. population across the whole continent.
b. enabled people from farms and small towns to visit the big cities.
c. united the nation into a single, integrated national market.
d. made it possible for some immigrants to settle in the West.
e. developed a skilled industrial
C
Agreements between railroad corporations to divide the business in a given area and share the profits were called:
a. pools
b. trusts
c. rebates
d. interlocking directorates
e. holding companies
A
In the case of Wabash, St. Louis, and Pacific Railroad Company v. Illinois, the U.S. Supreme Court held that state legislatures could not regulate railroads because:
a. The U.S. Constitution did not permit the government to regulate private industry.
b. the state legislatures were acting on behalf of a private interest, Illinois farmers.
c. the Wabash, St. Louis, and Pacific Railroad was incorporated in Missouri, not Illinois.
d. railroad executives had committed no illegal acts in their business.
e. railroads were interstate businesses and could not be regulated by any single state.
E
The first federal regulatory agency designed to protect the public interest from business combinations was the
a. Federal Trade Commission.
b. Interstate Commerce Commission.
c. Consumer Affairs Commission.
d. Federal Anti-Trust Commission.
e. Federal Communications Commission.
B
The vast, integrated, continental U.S. market greatly enhanced the American inclination toward
a. selling goods far away from their point of manufacture.
b. specialized goods produced by skilled labor.
c. government certification and regulation of consumer products.
d. mass manufacturing of standardized industrial products.
e. importing raw materials from overseas.
D
The American system of mass manufacture of standardized, interchangeable parts provided strong incentives for U.S. capitalists to:
a. invest in training for their workforce.
b. hire American workers rather than foreign immigrants.
c. replace skilled labor with machinery.
d. build extremely large factories in dedicated industrial districts.
e. pay higher wages to retain a steady workforce.
C
Two technological innovations that greatly expanded the industrial employment of women in the late nineteenth century were the:
a. typewriter and the telephone.
b. electric light and the phonograph.
c. Bessemer steel process and the internal combustion engine.
d. streetcar and the bicycle.
e. electric refrigerator and stove.
A
One of the methods by which post-Civil War business leaders increased their profits was:
a. increased competition.
b. supporting a centrally planned economy.
c. funding research on new technologies.
d. elimination of the tactic of vertical integration.
e. elimination of as much competition as possible.
E
Andrew Carnegie’s system of vertical integration:
a. combined all facets of an industry, from raw material to final product, within a single company.
b. created an industrial association through which member companies could wield much power.
с. embraced the notion of buying up competitors and forming a monopoly interest.
d. required smaller competitors to agree to standardized rates set by larger firms.
e. None of these
A
John D. Rockefeller’s organizational technique of horizontal integration involved:
a. franchising Standard Oil gasoline stations to independent operators.
b. controlling all phases of the oil industry from drilling to commercial retailing.
c. creating standardized job assignments and fixed production and sales quotas for all employees.
d. forcing small competitors to assign stock to Standard oil or lose their business.
e. developing multiple uses for oil in transportation, lighting, and industry.
D
J.P. Morgan undermined competition by placing officers of his bank on the boards of supposedly independent companies that he wanted to control. This method was known as a(n):
a. interlocking directorates
b. trust.
c. vertical integration.
d. pool.
e. holding company.
A
The “Gospel of Wealth” endorsed by Andrew Carnegie:
a. based its theology on the teachings of Jesus.
b. held that the wealthy should display moral responsibility in the use of their God-given money.
c. stimulated efforts to help minorities.
d. was opposed by most late nineteenth century clergymen.
e. asserted that the more people prayed the better off they would become.
B
Although they were commonly called “Social Darwinists,” advocates of economic, national, or racial “survival of the fittest” ideas actually drew less on biologist Charles Darwin than on:
a. British laissez-faire economists like Thomas Malthus and David Ricardo.
b. German philosophers like G.W.F. Hegel and Friedrich Nietzsche.
c. American literary figures like Jack London and Theodore Dreiser.
d. European scientists like Gregor Mendel and Louis Pasteur.
e. racist theorists like Arthur Gobineau and Houston
Stewart Chamberlain.
A
Believers in the doctrine of “survival of the fittest,” like Herbert Spencer and William Graham Sumner, argued that:
a. only a few large corporations were fit to survive in the industrial jungle.
b. society owed a basic standard of living to even its weakest members.
c. there should be eugenic biological breeding to produce a superior human race.
d. fitness to survive and thrive could be proven through physical competition.
e. the wealthy deserved their riches because they had demonstrated greater abilities than the poor.
E
