U.S. History 3-6-14 Study this for test next week

Industrialists of the late 1800s contributed most to economic growth by (1) supporting the efforts of labor unions (2) establishing large corporations (3) encouraging government ownership of banks (4) opposing protective tariffs

(2) establishing large corporations

Which statement identifies a characteristic of a free-enterprise economic system? A) Investments and profits are controlled by individuals. B) The individual and the government work together to make a profit. C) The government makes most of the economic decisions. D) Profits from businesses are used to benefit needy members of society.

A) Investments and profits are controlled by individuals.

In the United States during the late 1800's, why did the corporate form of business organization became increasingly important? A) because corporations could generate large amounts of capital with limited liability for investors B) because corporations promoted increased interaction between employer and employees C) because Federal legislation encouraged the private ownership of business D) because state and Federal legislation restricted the growth of sole proprietorships

A) because corporations could generate large amounts of capital with limited liability for investors

The theory of laissez-faire economics was used during the late 1800s to A) justify unregulated business growth B) call for more consumer protection C) support Progressive programs D) achieve equal distribution of income

A) justify unregulated business growth

In the late 19th century, critics of big business claimed that monopolies most harmed the economy by A) limiting competition B) decreasing the urban growth rate C) preventing technological innovation D) failing to keep pace with European industries

A) limiting competition

Society advances when its fittest members are allowed to assert themselves with the least hindrance. The idea expressed in this statement is most consistent with the A) principles of Social Darwinism B) concept of assimilation C) goals of the Progressive movement D) melting pot theory of American culture

A) principles of Social Darwinism

During the second half of the 19th century, a major goal of new types of business organizations was to A) introduce safer and less expensive products to consumers B) consolidate the manufacture and distribution of products C) support the large number of government regulations D) compete successfully with Japanese imports

B) consolidate the manufacture and distribution of products

One advantage of a corporation over an individually owned business is that the corporation has A) a closer relationship between labor and management B) easier access to investment capital C) unlimited legal liability for damages D) exemption from prosecution under antitrust laws

B) easier access to investment capital

The theory of Social Darwinism was often used to justify the A) creation of the Ku Klux Klan B) formation of business monopolies C) use of strikes by labor unions D) passage of antitrust laws

B) formation of business monopolies

Industrialists of the late 1800s used pools and trusts to A) promote fair business practices in the marketplace B) increase profits by minimizing competition C) work cooperatively with labor unions D) exclude immigrant workers from factory jobs

B) increase profits by minimizing competition

The Rockefeller Foundation, Carnegie Hall, and the Morgan Library illustrate various ways that entrepreneurs and their descendants have A) suppressed the growth of labor unions B) supported philanthropic activities to benefit society C) applied scientific discoveries to industry D) attempted to undermine the United States economic system

B) supported philanthropic activities to benefit society

A person who believes in the Social Darwinist theory of survival of the fittest would agree that A) poor people should get help from the government B) rich nations should give substantial aid to help poor nations C) individuals should succeed through their own efforts D) government should tax the rich to help the poor

C) individuals should succeed through their own efforts

The term business monopoly can best be described as A) the most common form of business in the United States B) government control of the means of production C) an agreement between partners to manage a corporation D) a company that controls or dominates an industry

D) a company that controls or dominates an industry

According to the theory of laissez-faire, the economy functions best when the government A) subsidizes business so that it can compete worldwide B) regulates businesses for the good of the majority C) owns major industries D) does not interfere in business

D) does not interfere in business

During the late 1800s, the idea of Social Darwinism was used to explain the A) development of the Granger movement B) need for settlement homes C) creation of a national parks system D) success or failure of businesses

D) success or failure of businesses