1.4 PT. II

Both communication and transportation in the late 1800s were dramatically improved with the introduction of...

• the telegraph.

• electric power

• the handheld camera

• petroleum

In a laissez-faire economy, the government should

• avoid interfering with the economy.

• regulate all business.

• subsidize the economy.

• discourage privatization.

Who achieved a monopoly of the oil market in the late 19th century?

• Andrew Carnegie

• John D. Rockefeller

• J.P. Morgan

• Jay Gould

How did the concept of interchangeable parts impact industrialization?

• It brought in wealthy investors.

• It created large corporations.

• It provided new union jobs.

• It sped up manufacturing.

Many businesses became widely successful in selling their products in the early 1900s after they utilized the new concept of

• advertising

• monopolies

• lassiez-faire economics

• holding companies

What was the main purpose of the Pacific Railway act?

• to sell stock in the Central Pacific Railroad

• to construct a railway west of the Mississippi River

• to create railroad jobs for immigrants

• to build a railroad across the continent

The term robber baron was given to men of the Gilded Age who

• became wealthy through unethical means.

• revolutionized their industry through innovation.

• broke up large monopolies through legislation.

• encouraged widespread laissez-faire economic policies.

Which development directly improved people’s standard of living in the late nineteenth century?

• investing

• advertising

• refrigeration

• mechanization

Which business strategy did Andrew Carnegie utilize to build his steel company?

• laissez-faire economics

• horizontal integration

• economies of scale

• vertical integration

What did the railroad companies do with the land given to them by the federal government?

• exchanged it for machinery

• traded it for steel

• sold it to settlers

• sold it to robber barons