Gilded Age Test

One effect of monopolies on the US economy is that they have tended to

• reduce business competition

• keep prices low

• give consumers a greater choice in purchasing goods & services

• lead to a greater variety in the price for a particular product or service

During the period 1865-1900, government contributed to the growth of corporations mainly by

• giving them direct aid when they went bankrupt

• allowing them to develop with few restrictions

• providing low-cost housing for their workers

• buying large amounts of corporate stocks

After the Civil War, one way business leaders tried to eliminate competition was by

• increasing the prices of their products

• paying higher wages to their workers

• forming monopolies or trusts

• developing overseas markets

In the US, corporation became the dominate form of business organization in the late 19th century mainly because

• government regulated their development

• industries needed large amounts of capital

• proprietorships became too complex to run

• large numbers of jobs were needed for immigrants

During the period from 1875-1900, the greatest challenges to the US Government were presented by

• the military threat posed by European alliances

• a rapidly rising national debt

• sectional disagreements relating to nullification & secession

• the changes accompanying a shift from an agricultural economy to an industrial economy

In the Cartoon, the figure of Rockefeller represents a

• philanthropist

• robber baron

• governmental economist

• small business owner

Which statement bests describes a major economic trend in the US during the period from 1865-1900?

• Basic industries were taken over by the government

• the gross national product decreased steadily

• workers determined working conditions and factory output

• many business practices were developed to eliminate competition

The main idea of the cartoon is that the US Senate

• passed strong antitrust legislation despite the opposition of big business

• alienated business leaders by ignoring their interests

• refused to admit special interest groups to Senate hearings

• was heavily influenced by big business

Which feature of the US economy is symbolized by the rose?

• technological improvements in agriculture

• dependence on imported oil

• creation of monopolies

• governmental success in regulating business competition

The term "robber barons" is used to describe many industrialists of the late 19th century mainly because they

• made large charitable donations to worthy causes

• sought to maximize their profits by eliminating competition and exploiting workers

• attempted to stimulate the economy by keeping the prices of their products as low as possible

• opposed the entry of poor and uneducated immigrants into the US