Progressive Notes 3

Which of the following is NOT a way that J.P. Morgan used his wealth and influence?

• Purchasing Carnegie's steel conglomerate
• Stopping the Banking Panic of 1907
• Providing finances to struggling companies
• Creating a monopoly in the banking industry

What was the impact of the actions of these individuals on the industries they controlled?

• They gained near total control and became incredibly wealthy
• They caused prices to decrease
• They created competition and innovation
• They had no impact on the industries

Which of the following did John D. Rockefeller NOT do to gain a monopoly in the oil industry?

• Sell oil at a loss to drive out competitors
• Buy out rival companies
• Raise prices once he controlled the market
• Pay workers more than other companies

Which of the following is NOT a contribution made by the Rockefeller Foundation?

• Research on diseases
• Support for medical institutions
• Creation of a school of Hygiene and Public Health
• Find new ways to transport goods

What is the definition of a monopoly?

• A company that is owned by a single individual
• A company that is regulated by the government
• A company that controls the supply, trade, or price of a resource
• A company that is struggling financially

Which of the following individuals controlled the majority of U.S. steel production by 1899?

• John D. Rockefeller
• Cornelius Vanderbilt
• Andrew Carnegie
• J.P. Morgan

Which of the following individuals controlled all the railroad lines in New York and most lines connecting New England to the Great Lakes?

• John D. Rockefeller
• Andrew Carnegie
• J.P. Morgan
• Cornelius Vanderbilt

Who were the individuals who gained near total control over various industries and became incredibly wealthy?

• Immigrants from Scotland
• Politicians
• Robber barons
• Farmers

Which of the following is NOT a reason why these individuals are often referred to as "robber barons"?

• They gained near total control over industries
• They became rich through excessive greed
• They used ruthless and unfair business practices
• They donated large sums of money to charity

How did these individuals justify their actions?

• Through philanthropic efforts
• Through religious beliefs
• Through the idea of Social Darwinism
• Through government regulations