Which of the following helpd fuel economic growth by encouraging people to buy American goods?
Protective tariffs
Steel changed people's lives by making possible the
Construction of skyscrapers.
A cartel differs from a monopoly in that
Businesses making the same product agree to limit production.
Cartels, monopolies, trusts, and horiozontal and vertical integration all share the goal of
Increasing profits.
Capitalizm fueled industrialization by
Encouraging entrepreneurs to establish businesses.
Which innovation extended the number of hours in a day that Americans could work and play?
Electricity.
Which industry most spurred economic growth and innovation in related industries?
Railroads.
As farms became mechanized
Farmers moved to urban areas.
What punishent would a corporate violator of the Sherman Antitrust Act face?
A fine not exceeding $10,000,000
The Sherman Antitrust Act imposed limitations upon which group?
Large corporations.
Corporations had the impotant advantage of
Reducing th financial risk for individual investors.
In the late 1800s, workers tolerated poor wages and working conditions because they
Could be replaced easily by other workers.
Which labor leader began the American Federation of Labor?
Samuel Gompers
What was one effect of the events in Haymarket Square?
Americans turned away from radicalism.
How did the federal government support employers during times of labor unrest?
They denied unions recognition as legally protected groups.
In what field did significant technological innovation occur in the late 1800s?
Building materials, communications, and transportation.
In which system does one company control the businesses that make up all phases of a product's development?
Vertical Integration
Which arument supports the perception of big business leaders as "captains of industry"?
Industrialists' support for technology benefited the economy.
The ICC was formed to
Oversee railroad operations.
Horizontal integration differs from vertical integration in that it
Consolidates many firms involved in the same business into one giant company.
The federal government formed the Interstate Commerce Commission to oversee
RAilroad operations across the nation.
Which of the following limited membership to skilled craftspeople and focused on economic reforms?
The American Federation of Labor.
Which event resulted in the execution of four anarchists and the decline of the Knights of Labor?
The Haymarked Riot of 1886
In the late 1800s, industrial workers
Faced low wages and long hours in unsafe working conditions.
Which labor organization was founded first?
The Knights of Labor.
How did Socail Darwinists view poverty?
They thought that assisting the poor would disrupt the natural selection of the fittest.
Mass Production
A system for turning out large numbers of products very quickly and inexpensively.
Entrepreneur
A person who invests money in a business venture to make a profit.
Monopoly
Complete control of a product or service.
John D. Rockefeller
An oil tycoon who used horizontal integration to decrease costs and increase profits.
Corporation
A business in which ownership is shared.
Sweatshop
A small, hot, dirty workhouse.
Homestead Strike
The response to wage cuts at a CArnegie Steel plant in 1892.
Thomas Edison
The inventor who wanted to develop affordable lighting for houses.
Knights of Labor
A labor union open to workers from any trade.
Andrew Carnegie
A steel tycoon who used vertical interation to increase profits.