Which argument supports the perception of big business leaders as “captains of industry”?

Industrialists’ support for technology benefited the economy.

the last decades of the nineteenth century

Horizontal integration differs from vertical integration in that it

consolidates many firms involved in the same business into one company

In the late 1800s, industrial workers

faced low wages and long hours in unsafe working conditions.

How did Social Darwinists view poverty?

Assisting the poor would disrupt natural selection of the fittest.

Corporations had the important advantage of

reducing the financial risk for individual investors.

In the late 1800s, workers tolerated poor wages and working conditions because they

thought they could be replaced easily by other workers.

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Gilded Age Economy

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Questions 14

Answers

1
Steel changed people’s lives by making possible the
invention of radio.
establishment of time zones.
construction of skyscrapers.
development of electricity.
2
Which argument supports the perception of big business leaders as “captains of industry”?
Monopolies forced small companies out of business.
Workers’ wages rose as industrialists profited.
Industrialists’ support for technology benefited the economy.
Consumers were harmed by inflated prices.
3
Gilded Age
the last decades of the nineteenth century
the U.S. during Reconstruction
the first decades of the twentieth century
a time where the U.S. economy remained unchanged
4
Monopolies, corporations, and horizontal and vertical integration all share the goal of
raising wages.
combining resources.
driving up costs.
increasing profits.
5
Horizontal integration differs from vertical integration in that it
combines all businesses involved in all phases of a product’s development
merges stocks from multiple businesses into a new organization
consolidates many firms involved in the same business into one company
requires investment from a number of people who share ownership in the firm
6
In the late 1800s, industrial workers
faced low wages and long hours in unsafe working conditions.
collaborated with employers to reform labor laws.
increased the amount of time they had available for recreation and leisure.
took control of the factories in which they worked.
7
In which system does one company control the businesses that make up all phases of a product’s development?
corporation
horizontal integration
veritcal integration
pool
8
The Sherman Antitrust Act imposed limitations upon which group?
Farmers
Congress
Large corporations
Small-business owners
9
Which innovation extended the number of hours in a day that Americans could work and play?
refrigeration
electricity
telegraph technology
Bessemer process
10
How did Social Darwinists view poverty?
The wealthiest businessmen should give away their money to the poor.
People can go from “rags to riches” if they are given a chance.
Assisting the poor would disrupt natural selection of the fittest.
They encouraged philanthropy to poor people who tried to better themselves.
11
Which industry most spurred economic growth and innovation in related industries?
Steel
Railroads
Oil
Food
12
Corporations had the important advantage of
reducing the financial risk for individual investors.
keeping prices high.
developing into monopolies.
being run by an individual or a family.
13
In the late 1800s, workers tolerated poor wages and working conditions because they
were tricked by employers into taking dangerous jobs.
thought that the government would protect them.
thought they could be replaced easily by other workers.
believed it had to get worse before it got better.
14
Which of the following helped fuel economic growth by encouraging people to buy American goods?
J.P. Morgan
Protective Tariffs
Monoploies
Patents

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