Economic Issues of The Gilded Age

Identify THREE​ significant characteristics of the Gilded Age.

1: ​ (a)   ​

2: ​ (b)  

3: ​ (c)  

• growth of "big business" trusts
• rapid westward expansion
• revival of classical art and music
• steady decline of industrial manufacturing
• expansion of national parks
• growth of the railroad industry

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TEKS [2.A] [3.B]

How were America's agricultural industries effected by the economic transformations experienced in the late 19th Century?

• high unemployment rates for most farmers

• constant food shortages led to prices rising quickly

• overproduction and lower prices drove most farmers into debt

• commercial farming became increasingly important in the North.

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TEKS [3.B]

Several important individuals contributed greatly to the growth and expansion of America's national economy. Andrew Carnegie was most responsible for developing the ​ (a)   industry in America. John D. Rockefeller created the world's largest and wealthiest ​ (b)   corporation.

• steel
• oil
• timber
• gold
• textile
• lightbulb
• railroad
• banking

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TEKS [3.B]

What major influence did "laissez-faire" economic policies have on business practices in the late 19th century?

• unregulated industrial growth and the rise of corporate monopolies

• increased protection of natural resources.

• capitalists supported more government regulations on business practices.

• factories became safer and worker wages rose steadily.

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TEKS [3.B] [15.B]

The Transcontinental Railroad and The Homestead Act were directly responsible for causing...

• a rapid growth of cities in the north

• a large number of former black slaves to migrate to the south.

• a rapid decline of cities in the north.

• an increase in westward migration and farming settlements in the west.

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TEKS [15.A]

The development and growth of the American railroad industry had what major effect on the growth of major industries in the Gilded Age?

• it was more difficult for industries and businesses to spread westward.

• the supply of raw materials increased quickly, and market prices dropped.

• factory machines and equipment became more expensive.

• increased government regulation made it harder to form coporate trusts.

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TEKS [3.B]

How did rapid industrialization in American transform the national economy?

• overall decrease in national market production.

• increased importance of subsistence farming, hunting, and fishing.

• slavery was abolished in the South, causing economic collapse.

• a shift away from rural agriculture and toward large-scale manufacturing.

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TEKS [3.B]

The most successful industrial entrepreneurs of the Gilded Age formed corporate "trusts" (monopolies) by...

• accepting more government regulations over time.

• increasing the amount of trade with foreign countries.

• eliminating market competition

• increasing market competition.

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TEKS [3.B]

Study the graph you are given. What was the primary reason for the changing population patterns shown in the graph?

• The discovery of valuable natural resources, like gold and oil.

• The Homestead Act increased demand for farms and agricultural production.

• Industrialization caused a rapid supply and demand for low-skill factory wages

• increased civil rights for women and minorities across the country.

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TEKS [3.C]

Organize these options into the right categories

Groups:

(a) Vertical Integration

,

(b) Horizontal Integration

,

(c) Technology Innovation

• electric lights allow a factory to operate 24 hours a day.

• the richest car company buys out the smallest, weakest competing car company

• 20 different local grocery stores are combined into one large corporation.

• a toy company starts their own shipping and transportation company

• a clothing factory converts to sewing machines instead of human labor.

• railroads are used to ship products farther and faster.

• A pizza shop owner buys the bread and cheese factories.

• controlling all the steps of production

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TEKS [3.B] [15.B]