Chapter 24 Flashcards
The national government helped to finance transcontinental railroad construction in the late nineteenth century by providing railroad corporations with…
A. Land grants
B. Reduced prices for iron and steel
C. Aid for construction of railroad stations
D. Cash grants from higher tariffs
E. Cash grants from new taxes
A - Land Grants
During the Gilded Age, most of the railroad barons…
A. Focused on public service
B. Relied exclusively on Chinese labor
C. Refused to get involved in politics
D. Rejected government assistance
E. Built their railroads with government assistance
E - Built their railroads with government assistance.
One by-product of the development of the railroads was…
A. Fewer big cities
B. The movement of people to cities
C. A scattering of the U.S. Population
D. A reduction in immigration to the United States
E. A loss of population in the east
B - The movement of people to cities.
The greatest single factor helping to spur the amazing industrialization of the post-Civil War years was…
A. Agriculture
B. The railroad network
C. The steel industry
D. Mining
E. Electric power
B - The railroad network.
The United States changed to standard time zones when…
A. The major rail lines decreed the division of the continent into 4 time zones so that they could keep schedules and avoid wrecks
B. Congress passed a law establishing this system
C. Factories demanded standard time schedules
D. Long-distance telephones required standard time coordination
E. All of these
A
The first federal regulatory agency designed to protect the public interest from business combinations was the?
A. Federal Anti-Trust Commission
B. Federal Trade Commission
C. Consumer Affairs Commission
D. Interstate Commerce Commission
E. Federal Communications Commission
D - Interstate Commerce Commission
One of the most significant aspects of the Interstate Commerce Act was that it…
A. Failed to prohibit some of the worst abuses of big businesses, such as pools and rebates
B. Revolutionized the business system
C. Actually did nothing to control the abuses of big businesses
D. Represented the first large-scale attempt by the federal government to regulate business
E. Invoked the Constitution’s Interstate Commerce clause
D
After the Civil War, the plentiful supply of unskilled labor in the United States…
A. Increasingly found work in agriculture
B. Helped to build the nation into an industrial giant
C. Came almost exclusively from rural America
D. Was almost entirely native born
E. Was not a significant force, because industrialization required skilled workers
B - Helped to build the nation into an industrial giant
Match each entrepreneur with the field of enterprise with which he is historically identified.
A. Andrew Carnegie
B. John D. Rockefeller
C. J.P. Morgan
D. James Duke
- Steel
- Oil
- Tobacco
- Banking
E: A-1, B-2, C-4, D-3
J.P. Morgan monitored his competition by placing offers of his bank on the boards of companies that he wanted to control. This method was known as a(n)?
A. Holding company
B. Pool
C. Trust
D. Vertical integration
E. Interlocking dictorate
E - Interlocking Dictorate
America’s first billion-dollar corporation was?
A. American Telephone and Telegraph
B. General Electric (GE)
C. Standard Oil
D. The Union Pacific Railroad
E. United Staes Steel
E - United States Steel
The first major product of the oil industry was?
A. Heating oil
B. Lighter fluid
C. Natural gas
D. Gasoline
E. Kerosene
E - Kerosene
The oil industry became a huge business…
A. When it was taken over by the government
B. With the invention of the internal combustion engine
C. When oil was discovered in Texas
D. When Diesel engines were perfected
E. With the building of electric generator plants
B - With the invention of the internal combustion engine.
John D. Rockefeller used all of the following tactics to achieve success in the oil industry except?
A. Employing spies
B. Pursuing a policy of rule or ruin
C. Showing the mercy to his competitors
D. Extorting rebates from railroads
E. Using high-pressure sales methods
C - Showing mercy to his competitors.
The gospel of wealth, which associated godliness with wealth,
A. Inspired the wealthy to try to help the poor
B. Discourage efforts to help the poor
C. Stimulated efforts to help minorities
D. Relied on the sayings of Jesus
E. Was opposed by most clergymen
B - Discouraged efforts to help the poor.