Gilded Age

Question 1

Andrew Carnegie

Answer 1

Wealthy industrialist made money from Steel. Built house in NY that no one can buy after his death

Question 2

Gilded Age

Answer 2

America industrial growth, wealth inequality, and political corruption. Economy expanded while many workers lived in poverty

Question 3

Horizontal integration

Answer 3

Company buys out competitors in same industry becoming monopoly. John D. Rockefeller in Oil industry

Question 4

Vertical integration

Answer 4

Company controls all parts of production, from raw materials to distribution and selling. Andrew Carnegie in Steel industry

Question 5

Trust

Answer 5

Large business combinations where companies join under single board of directions. Reduce competition and control the industry

Question 6

Panic of 1893

Answer 6

Major economic depression caused by railroad failure, bank collapse, and failing gold reserves. Led to high unemployment rate. Resulted in protests such as Populist

Question 7

Political Patronage

Answer 7

Jobs given due to political connections

Question 8

Pendleton Act 1883

Answer 8

Jobs are given depending on skills rather than political connections

Question 9

Which events involved army in Gilded Age?
Kkk, Indian Wars, Homestead Rebellion, Pullman Act

Answer 9

Only Kkk did not involve the federal army

Question 10

Populist (people’s) Party

Answer 10

Advocated for reform and policies to help farmers including using silver as money

Question 11

Coinage Act 1873

Answer 11

US money is only gold, excluding silver