Chapter 17
How did limited liability entice investors to purchase stock?
It excused investors from debts beyond the money they invested.
Which of the following was a source of industrial growth in American industry in the late nineteenth century?
abundant raw materials surge in technological innovation large and growing labor supply
Which of the following groups were allowed to join the Knights of Labor?
factory workers women
Middle-class Americans were troubled by tactics of the Molly Maguires in part because they were
violent
Uriah S. Stephens founded the Knights of Labor to advocate for
workers
In the American business community at the end of the nineteenth century,
1 percent of businesses controlled one-third of all manufacturing. economic power was centered in the hands of a very few men.
Which union represented the workers in the Homestead steel plant in the strike of the mid-1880s?
Amalgamated Association of Iron and Steel Workers
The Pullman strike temporarily stopped railroad travel from ______ to the Pacific Coast.
Chicago
True or false: The Bessemer process produced small amounts of steel.
False
True or false: The first gas-driven motor vehicle was built by Henry Ford in 1893.
False
Which of the following best describes the effect immigrant workers had on labor unions?
Immigrant workers resisted organizing, thereby weakening unions.
What did late-nineteenth-century organized labor accomplish?
It helped establish an eight-hour workday for government employees.
What effect did the boom-and-bust cycle have on industrial workers?
It made their wages highly unstable.
Which of the following is true of Taylorism?
It organized industrial production into many simple tasks.
Which best describes the Bessemer process?
It was used to purify molten iron during the steel-making process.
What banker bought Andrew Carnegie's interests and merged them with others to create the United States Steel Corporation, which controlled almost two-thirds of the nation's steel production at the turn of the twentieth century?
J. P. Morgan
The American Federation of Labor emerged as a rival of the
Knights of Labor.
Which of the following is true regarding work conditions in American factories in 1900?
Laborers could expect to work at least sixty hours a week.
Which of the following are true of industrial workers at the turn of the century?
Many had trouble adjusting to the strict routines and repetitive tasks of modern industrial labor. Many former artisans found the new system impersonal and demeaning.
Which of the following resulted from the decline in government support for research?
More skilled researchers were available to corporations.
Which of the following events occurred during the Homestead strike of 1892?
One radical made a failed attempt to assassinate Henry Clay Frick. Henry Frick shut down the plant in an attempt to destroy the Amalgamated union. The entire Pennsylvania National Guard was ordered to protect strikebreakers. Hundred of guards hired by Homestead were defeated in a deadly battle with strikers.
The "gospel of wealth" was essentially a gentle version of
Social Darwinism.
Daniel De Leon, an immigrant from the West Indies, led the ______ for numerous years.
Socialist Labor Party
Which best describes why corporations began investing in research and development?
The U.S. government began to reduce funding for research.
Which of the following was a tenet of the "gospel of wealth"?
The rich should make philanthropic donations to good causes.
Which best describes the wages of industrial workers in the late nineteenth century?
They could be sharply cut at any moment.
Why did the modern corporation become popular among railroad magnates and other industrialists after the Civil War?
They liked the idea of being able to undertake big projects with manageable financial risk. They realized that their ventures could not be financed by a single person.
Which of the following was a criticism of monopolies?
They overpriced goods and services.
Why did the AFL initially fail to make substantial gains for workers?
They tried to marginalize women and blacks.
True or false: Subsidies from federal, state, and local governments contributed to the expansion of the railroad system across the United States.
True
Which best explains the growth in the iron and steel industries after the U.S. Civil War?
U.S. railroads rapidly expanded, requiring massive amounts of the metals.
New managerial techniques adopted in the late nineteenth century included
a hierarchy of control. a systematic division of responsibilities. strict cost-accounting procedures.
Some of the most important new technologies that contributed to late-nineteenth-century industrial growth were in the field of
communication.
Which of the following did monopolies threaten?
competitive pricing
Like Horatio Alger's stories, Russell Conwell preached that individuals
could find wealth in their own backyards.
Which type of union was popular before the Civil War?
craft
Nicolaus August Otto Gottfried Daimler Henry Ford Charles and Frank Duryea
designed a gasoline-powered four-stroke engine created a portable internal combustion engine completed the first of many cars in 1896 made the first gasoline-powered American automobile
Baptist minister Russell H. Conwell believed that great wealth was available to
everyone
The new immigrants came to America in part to
find new economic opportunities. escape oppression. escape poverty.
Which of the following contributed to the development of the first automobiles?
gasoline internal combustion engine
Which of the following are reasons that organized labor in the late nineteenth century failed to make greater gains?
geographic mobility, which served to dilute institutional ties and class consciousness tensions between ethnic and racial groups, which divided the work force powerful and wealthy corporations that had the support of all levels of government failure to represent a larger percentage of the workforce
What caused American industry to expand during the late nineteenth century?
growth of the domestic market
According to the wealthy capitalists of the era, those who were unable to achieve wealth and power
had only themselves to blame.
Which of the following describes a form of corporate consolidation where a group of businesses that do the same thing are consolidated?
horizontal integration
What did Lester Frank Ward believe controlled society?
human intellect
The ideology of _________ stressed that every individual had a chance to succeed and attain great wealth.
individualism
What factor contributed to industrial growth in the late nineteenth century?
invention of new technologies
Which is a characteristic of modern business administration?
middle management
Employers often encouraged the immigration of unskilled laborers with the assistance of foreign-born labor brokers, such as the Greek and Italian ____________ , who recruited work gangs of their fellow nationals.
padrones
Informal agreements among various companies to stabilize rates and divide markets were known as
pool arrangements.
The principal agent of industrial development in the late nineteenth century was
railroad expansion.
Which of the following best describes the researchers who staffed corporate research laboratories?
scientists and engineers who had lost their traditional forms of support
Many industrial workers faced ten-hour days, ______ days a week.
six
The earliest unions in the United States were composed of small groups of ______ workers.
skilled
The stories of Horatio Alger are important because they supported Americans' belief that
social mobility is possible.
Which of the following are the primary goals of Taylorism?
speed up the production process minimize worker errors make workers more interchangeable
Andrew Carnegie Issac Singer Gustavus Swift J. P. Morgan John D. Rockefeller
steel sewing machine manufacturing meatpacking steel oil
Which group was most instrumental in quashing the Homestead Strike?
the National Guard
The first to adopt the new corporate form of organization was
the Pennsylvania and other railroads.
In what labor event did Eugene V. Debs play a major role?
the Pullman strike
According to the ideas expressed by Andrew Carnegie in The Gospel of Wealth,
the rich should use their wealth to advance social progress.
Andrew Carnegie financed the acquisition of new businesses in part by
the sale of stock.
Which of the following helped corporations weaken labor unions?
the use of troops to "preserve order" support from local, state, and federal authorities
Under a trust agreement, individual stockholders
transfer corporate stocks in exchange for shares in the trust.
Which of the following were developed to facilitate nineteenth-century corporate consolidation?
trusts holding companies pools
Which group would most likely be rejected by the AFL?
unskilled workers
