M5L1 Economy of the Gilded Age Practice Quiz

One advantage of a market economy is

• Easy access to various government services

• A social safety net.

• Government support of businesses.

• Flexibility in creating and running private businesses by individuals.

One selling point of laissez-faire capitalism to the American people was that it 

• Encouraged a "leveling" of economic classes as the working class thrived in the business of manufacturing.

• Promoted a promise of vigorous government control of corporations that grew too big.

• Echoed the ideas of a "just society" found in a French utopian socialism.

• Celebrated the much valued self-reliant cowboy spirit.

Today's media ____ tend to own multiple outlets such as newspapers, television and radio stations, and even several cable networks. 

• Trust

• Gilded

• Barons

• Monopolies

The most fundamental features of a market economy include all of these except

• Evenly distributed property ownership

• Competition

• Private ownership of property

• Private businesses

All of the following were common ways for captains of industry to destroy competition except

• Lower their prices so much that it put small producers out of business.

• Hired the cheapest labor available, which included immigrants, children, and women.

• Starting new companies that efficiently filled in the gaps in the production and transportation.

• Buying up competitors' businesses and then closing them down.

Gilded Age captains of Industry took advantage of which of the following to gain control of markets?

• Access to immigrant labor and mechanized farm implements.

• Improvements in transportation and communication.

• Southern Jim Crow policies and the sharecropping system.

• Competition from European manufacturers and low tariff rates.

The reception room, just off the entryway, features colorful wall and ceiling decorations and a ____ over mantel mirror and matching cornices. 

• Entrepreneur

• Gilded

• Baron

• Monopoly

The property will be held in a ____ until her 18th birthday when she becomes of age. 

• Monopoly

• Gilded

• Baron

• Trust

Facebook faces the threat of being broken up in the United States and Europe over a ____ of the social media sector. 

• Baron

• Entrepreneur

• Trust

• Monopoly

The ideals of laissez-faire capitalism are associated with all of the following except

• Support for high levels of immigration to provide competitive cheap labor.

• Government sponsored high tariff rates on foreign goods to keep prices high.

• Control or elimination of strikes and labor unions.

• A responsibility to support the well-being of workers to ensure a high quality product.