chapter 19

15. Serving as financial advisers to railroads, the ________ often eventually found themselves taking control. A. stockholders B. Interstate Commerce Commission C. investment bankers D. robber barons

investment bankers

9. Which of the following was NOT among the advantages of the corporate form of business organization? A. It could raise needed capital quickly and efficiently. B. It designated a person personally responsible by law for corporation debts. C. It continued to exist even if a shareholder died. D. It separated the owners from those who actually managed the firm.

it designated a person personally responsible by law for corporation debts

The ________ was an essential system undergirding the rise of big business; it was itself big business; it was a cultural symbol of American industrialization; and it was a stimulus to other enterprises because it consumed so many natural resources. A. railroad system B. steel industry C. investment banking industry D. combination of national, state, and local governments

railroad system

13. Railroads pursued all sorts of techniques to overcome the competitive jungle, including all of the following EXCEPT A. creating regional federations to pool traffic. B. reducing scheduled train service to force prices up. C. fixing prices through rebates or preferential rates. D. consolidating competing lines either formally or informally.

reducing schooled train service to force prices up

4. For the first three-quarters of the nineteenth century, investment capital came mostly from A. investment banks. B. private investors. C. the savings of the firms. D. wealthy industrialists.

the savings of the firms

10. Which is a true statement about forms of business organization? A. The corporation was a new organizational technique not used in America before the Civil War. B. Horizontal integration refers to a corporation controlling the whole stream of production, from raw materials through industrial production to retail sales. C. The trust was a device to enlarge corporate power by jointly controlling and managing once-competing firms through a central board of directors. D. The holding company refers to an informal cooperative arrangement between two businesses, devised because it was illegal for corporations to own other corporations.

the trust was a device to enlarge corporate power by jointly controlling and managing once competing firms through a central board of directors

6. The late 1800s was a time of explosive growth invention and innovation. What these many innovations of the era had in common, according to your text, was that they A. all, in one-way or another, tapped the power of electricity. B. were made into systematic businesses. C. demonstrated America's historic leadership in basic research. D. transformed industry, while having little effect on daily life.

were made into systematic business

16. Which statement is NOT true of "vertical integration"? A. A "fully integrated" vertically organized corporation was one that controlled sources of raw materials, means of production, distribution systems, and sales outlets. B. In an industry oriented toward consumer goods, vertical integration tended to reach "upward" toward consumers. C. In heavy industries oriented toward supplying other industries, vertical integration tended to reach "downward" toward raw material suppliers. D. The Michigan Salt Association is a classic example of vertical integration.

In heavy industries oriented toward supplying other industries, vertical integration tended to reach "downward" toward raw material suppliers

24. Which of the following statements about American workers is NOT true? A. Although the Carnegie "rags to riches" experience hardly matched the experience of most workers, opportunity to rise economically—with higher wages and fewer hours—was enjoyed most by white males. B. Samuel Gompers of the AFL succeeded as a union leader because he advocated radical changes in the structure of American capitalism, rather than merely seeking better wages and working conditions. C. During the later nineteenth century, labor unions provoked alarm among social and political leaders because of a wave of strikes. D. To achieve high productivity, managers tended to treat workers as impersonal cogs in the industrial machinery.

Samuel Gompers of the AFL succeeded as a union leader because he advocated radical changes in the structure of American capitalism, rather than merely seeking better wages and working conditions

29. In the late nineteenth century, employers always had the advantage over workers in labor disputes. Which of the following was a tactic (or tactics) used by employers that gave them this advantage? A. the ability to hire and fire workers at will, and the use of "yellow dog" contracts B. the willingness of governmental authorities to send troops to break strikes C. the use of court injunctions against strikers D. All these answers are correct.

all of these answers are correct

18. A true social Darwinist like William Graham Sumner would accept A. protective tariffs to help business. B. labor union strikes to raise wages. C. business bankruptcies. D. combinations (either of businesses or workers) to reduce competition.

business bankruptcies

28. In the late 1800s, strikes and boycotts A. won the sympathies of average Americans for the workers' cause. B. challenged the authority of employers more often than mob violence. C. occurred in the dangerous mining and timber industries, but not in more specialized activities like railroads or steel. D. were usually planned and directed by labor union leaders.

challenged the authority of employers more often than mob violence

14. Which of the following, according to critics of industrial capitalism, was a "cost of doing business"? A. rationalization of the economy B. concentrated power C. increased national wealth D. tying the country together

concentrated power

To pay for building the myriad industrial systems and facilities needed to industrialize America, all of the following developments occurred EXCEPT A. foreign governments investing heavily in U.S. industry for both political and economic reasons. B. ordinary Americans having more and more surplus wealth to save and invest. C. a rapid increase in the use of the form of business organization known as the corporation, which issued certificates of stock. D. savings banks and stock exchanges channeling investment funds into the purchase of corporate stock.

forge in governments investing heavily in U.S. industry for both political and economic reasons.

5. The industries of Rockefeller and Carnegie illustrate not only the process of developing an industrial corporation, but also A. how new technologies made it possible to use natural resources in new ways and on a grander scale than before. B. how the "robber barons" of that era rejected any sense of responsibility to the public. C. vertical, though not horizontal, integration. D. enlightened labor practices.

how new technologies made it possible to use natural resources in new ways and on a grander scale than before

1. The chapter introduction tells the story of the journeys of Robert Ferguson and T. S. Hudson to make the point that A. America underwent a transportation and industrial transformation between the 1860s and 1880s. B. the railroad was America's first big business. C. travel in the United States was difficult and crude by twentieth-century standards, but Americans loved to travel anyway. D. few foreigners toured the United States before 1900.

America underwent a transportation and industrial transformation between the 1860s and 1880s

22. What statement about the workers' world of the 1880s and 1890s is true? . B. The industrial workplace increasingly called for skilled craftsmanship. C. Each year, industrial mishaps injured over 500,000 workers. D. On balance, the workers' lot entailed stagnant wages, rising prices, and longer working hours.

Each year, industrial mishaps injured over 500,00 workers

20. Who advocated what he called a "single tax"? A. Herbert Spencer B. Henry George C. Edward Bellamy D. Daniel De Leon

Henry George

19. Which of the following advocated what was referred to as "social Darwinism"? A. Charles Darwin B. Herbert Spencer C. Henry George D. Edward Bellamy

Herbert Spencer

26. The ________ prescribed not only an economic system, but a Protestant moralistic social plan. A. National Labor Union B. Knights of Labor C. American Federation of Labor D. American Railway Union

Knights of labor

3. The first "big business" in America, at least in terms of finance, labor relations, and management, was the A. oil refining industry. B. telephone industry. C. railroad industry. D. steel industry.

Railroad Industry

Which statement about the American Federation of Labor is true? A. The AFL, a combination of craft unions, stressed concrete, practical economic gains. B. The AFL's approach to labor consolidation was the horizontal business model. C. The AFL attracted a majority of U.S. skilled workers into its ranks. D. The AFL's longtime leader was Eugene V. Debs.

The AFL, a combination of craft unions, stressed concrete, practical economic gains.

2. The text stresses that the late-1800s phase of industrialization brought about not only corporations of great size but also A. new political reforms to break the power of those corporations. B. powerful, all-inclusive labor unions. C. new technologies produced by hard-working individual inventors. D. a national network of complex systems of industry, invention, and information.

a national network of complex systems of industry, invention, and information

23. What does the text mean by asserting that certain jobs were "feminized"? A. Lower-paying jobs tended to be held by more females than males. B. Males tended to no longer pursue certain professional occupations once women entered them in significant numbers. C. Enlightened managers in certain industries raised wages in response to women's protests. D. Certain dangerous factories adopted new safety measures in response to protests by the wives of their male workers.

Males tended to no longer pursue certain professional occupations once women entered them in significant numbers

17. Which of the following was a union benefit the railroad "brotherhoods" provided their members prior to the Civil War? A. insurance B. job security C. medical leave D. retirement pension

insurance

21. The American Federation of Labor was comparatively successful because it A. allied with the socialists. B. opened its ranks to women, blacks, and immigrants. C. represented mostly unskilled labor. D. stressed gradual, concrete gains for its members.

stressed gradual, concrete gains for its members.

25. For ordinary workers to affect the industrial order, they had to develop their own kind of integrated system. Specifically, they had to pursue A. socialism. B. fraternal cooperation. C. unionization. D. individual stock ownership.

unionization

7. What company did J. Pierpont Morgan create when he merged nine competing steel manufacturers into one? A. United States Steel Corporation B. Morgan Heavy Industries C. Carnegie Steel Company D. British Steel

united states steel corporation