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Chapter 4: The Triumph of Industry Flashcards | StudBud
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Chapter 4: The Triumph of Industry
Chapter 4: The Triumph of Industry
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Questions
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Answers
1
Capitalism fueled industrialization by...
ensuring that all workers received high wages
requiring inventors to file patents
encourage entrepreneurs to establish businesses for profit
giving the country many natural resources
2
A
cartel
differs from a
monopoly
in that...
One corporation has complete control of a product or service
All the firms involved in the same business merge into one
One firm set the prices for all goods in an industry
Businesses making the same product agree to limit production
3
Which industry most spurred economic growth and innovation in related industry?
Steel
Railroads
Food
Oil
4
Which event resulted in the execution of four anarchists and decline of the Knights of Labor?
Railroad Strikes of 1877
Pullman Strike of 1893
Haymarket Riot of 1886
Homestread Strike of 1892
5
Someone who invests money into a business to make a profit is...
A Representative
A Union Member
An Entrepreneur
A Cartel
6
What was one result of the Haymarket Riot?
The AFL ceased to exist
Membership of the K.o.L declined
Public support for labor unions grew
Steelworkers' wages increased
7
Which innovation extended the number of hours in a day that Americans could work or play?
Telegraph
Refrigeration
Electricity
Bessemer Process
8
What punishment would a corporate violator of the Sherman Antitrust Act face?
Jail for three years and a fine not exceeding $10 million
a fine not exceeding $10 million
imprisonment not exceeding three years
a fine not exceeding 350,000
9
Which labor leader began the
Knights of Labor
?
Uriah Smith Stephens
Samuel Gompers
Terence V. Powderly
Eugene V. Debs
10
Cartels, monopolies, trusts and horizontal and vertical integration all share the goal of...
Driving up costs
Raising wages
Increasing profits
Combining resources
11
The ICC was formed to...
make new transportation laws
control interstate commerce
oversee railroad operations
regulate communications across state lines
12
The Sherman Antitrust imposed limitation upon which group?
Congress
Farmers
Large Corporations
Small Business Owners
13
What was one effect of the events in Haymarket Square?
Strikes became more violent than they had been previously
Employers gained powers over unions' actions
Americans turned away of radicalism
Membership in unions generally increased
14
In which system does 1 company control everything that makes up all phases of a development?
Vertical Integration
Horizontal Integration
Trust
Cartel
15
Who was an oil tycoon who used horizontal integration?
Cornelius Vanderbilt
Andrew Carnegie
John D. Rockefeller
Alissa Loving
16
A business where ownership is shared by several investors is...
Trust
Corportation
Cartel
Monopoly
17
The federal government formed the ICC to oversee...
Patent Awards
Railroad operations across the nation
Labor Union Activity
Interstate Communication
18
Corporations had the important advantage of...
reducing the financial risk for individual investors
keeping prices high
developing into a monopolies
being run by an individual or a family
19
The inventor who wanted affordable energy for all American homes (among other things)!
Guglielmo Marconi
Orville Wright
Thomas Edison
Samuel F.B. Morse
20
Which of the following unions had skilled craftspeople and focused on economic reforms?
American Federation of Labor
American Railway Union
Industrial Workers of the World
Knights of Labor
21
A steel tycoon who used vertical integration...
Andrew Carnegie
John D. Rockefeller
Cornelius Vanderbilt
Henry Frick
22
In what field did significant technological innovation occur in the late 1800s?
Communications
All of Above
Transportation
Building Materials
23
In the late 1800s, workers tolerated poor wages and working condition because they...
thought that the government would protect them
believed it had to get worse before it got better
were tricked by employers into taking dangerous jobs
could be replaced easily by other workers
24
Horizontal integration differ from vertical integration in that it...
Merging many business into 1 big company
merge stocks from many businesses into a new organization
requires investment from several people who share ownership
combines all businesses involved in phases of development
25
Which argument supports the perception of big business leaders as "captain of industry"?
Industrialists' support for technology benefited the economy
Monopolies forces small companies out of business
Consumers were harmed by inflated prices
Workers' wages rose as industrialist profited
26
Steel changed people's lives in making possible the...
Invention of the Radio
Establishment of Time Zones
Development of Electricity
Building of Skyscrapers
27
How did the federal government support employers during times of labor unrest?
called on the Pinkertons to stop stikes
denied unions recognition as legally protected groups
make company towns illegal
imprisoned Eugene Debs and other labor leaders for life
28
___ is a system for turning out a large # of products cheaply and quickly.
Integration
Mass Production
Monopoly
Collective Bargaining
29
Which labor organization was founded first?
International Workers of the World
American Federation of Labor
American Railway Union
Knights of Labor
30
Which of the following helped fuel economic growth by encouraging people to buy American goods?
Tariffs
Monopolies
Laissez-faire
Patent
