Have an account?
Skip to Content
Build your own quiz
Suggestions for you
21 questions
Show Answers
See Preview
- 1. Multiple Choice“The American Beauty Rose can be produced in the splendor and fragrance which bring cheer to its beholder only by sacrificing the early buds which grow up around it. This is not an evil tendency in business. It is merely the working-out of a law of nature and a law of God. “ –John Rockefeller
Which of the following conclusions could be drawn about John Rockefeller based on the quote above?He supported the theory of Social Darwinism.He was a strong supporter of government regulation in business.He was a proponent of trust-busting and opposed any one company having too much control over an industry.He welcomed competitors because he knew competition was beneficial to consumers. - 2. Multiple Choice
Based on your knowledge of the Second Industrial Revolution in the United States, what statement is this cartoon making?The owner of Standard Oil has too much power and influence over the federal government.The federal government is ruining the oil industry by placing too many restrictions and regulations on business owners.The oil industry is thriving due to a healthy working relationship with the federal government.Emissions from oil refineries are polluting the air and harming the environment. - 3. Multiple ChoiceWhat is the main idea of this cartoon?The Standard Oil Company was a harmful monopoly.The best way to support the Standard Oil Company was to form proprietorships.Foreign competition with the Standard Oil Company was hurting American companies.Government regulations were strangling the Standard Oil Company.
- 4. Multiple ChoiceGeorge Rice, “How I Was Ruined by Rockefeller,” New York World, October 16, 1898.
“I am but one of many victims of Rockefeller’s colossal combination,” said Mr. [George] Rice, “and my story is not essentially different from the rest. . . . I established what was known as the Ohio Oil Works. . . . I found to my surprise at first, though I afterward understood it perfectly, that the Standard Oil Company was offering the same quality of oil at much lower prices than I could do—from one to three cents a gallon less than I could possibly sell it for.”“I sought for the reason and found that the railroads were in league with the Standard Oil concern at every point, giving it discriminating rates and privileges of all kinds as against myself and all outside competitors.”
What advantage did Standard Oil have over their competitors?Control of the RailroadsControl over the Interstate HighwaysControl of the steel making marketControl of numerous cargo ships - 5. Multiple ChoiceThe excerpt below is derived from the article "Wealth" by Andrew Carnegie. Use the excerpt to answer the following questions.
...This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him; and after doing so to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community....
—North American Review, June 1889
How did Andrew Carnegie carry out the ideas expressed in this excerpt?by funding numerous libraries and educational institutionsby serving many years in the federal governmentby investing his fortune in several new industriesby promoting programs to benefit the wealthy - 6. Multiple ChoiceWhich of the following was used as “scientific evidence” by wealthy American industrialists to prove they deserved the wealth they had accumulated?The Great Man TheoryThe “Gospel of Wealth”Social DarwinismAdam Smith’s Invisible Hand Theory
- 7. Multiple ChoiceThis business magnate and philanthropist was born in Scotland but made his millions in the steel industry in America.Jay GouldJohn D. RockefellerJ.P. MorganAndrew Carnegie
- 8. Multiple ChoiceHow did monopolies and trusts enable businessmen like Carnegie and Rockefeller to become among the richest and most powerful men in the world?They restricted immigration, thereby limiting the number of industrialists who could compete with them.They eliminated competition and allowed certain businessmen to control entire industries.They loaned large amounts of money to businessmen, thereby enabling them to invest in new industries.They paid large amounts of interest to finance capitalists in exchange for business loans.
- 9. Multiple ChoiceThis political cartoon is a criticism of which practice in the 19th century?vertical integrationmonopolizationindustrialismlaissez-faire capitalism
- 10. Multiple ChoiceJohn D. Rockefeller gained control of the oil industry byusing horizontal and vertical integration to make up a trust containing Standard Oilbuying large sections of the transcontinental railroadgoing into partnership with Andrew Carnegiecharging higher prices than his competitors
- 11. Multiple ChoiceWhat was one reason John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan were sometimes called robber barons?They made unnecessarily risky investments.They stole money from the federal government.They robbed from the rich to give to the poor.They used ruthless business tactics against their competitors.
- 12. Multiple ChoiceBased on the cartoon, what conclusion can be reached about the United States in the early 1880s?Most American manufacturing was controlled by business monopolies.Some American critics felt workers were being oppressed by business monopolies.Government leaders were finally taking steps to curb the power of business monopolies.Business monopolies overcharged their customers but were essential to American economic growth.
- 13. Multiple ChoiceWhat does the octopus represent?Standard Oil CompanyCarnegie SteelFlorida East Railroad CompanyJP Morgan and Chase
- 14. Multiple ChoiceWhy were the Industrial Capitalists referred to as "robber barons"?Industrialists often took advantage of other people economically.Industralists stole from the rich and gave to the poor.Industrialists were shared buisness partnerships controlled by a CEO.Industralists often formed conglomerates to rob smaller industries.
- 15. Multiple ChoiceHow did Andrew Carnegie differ from other robber barons of the Industrial Age?Late in life, Carnegie became more famous for his philanthropy than his economic greed.Late in life, Carnegie developed the socialist system of a welfare state in the steel industry.Late in life, Carnegie sold off his fortunes and financed election reforms and free public transit in urban areas.Carnegie developed the Woodbend Project which would provide unlimited free energy.
- 16. Multiple ChoiceThe total or complete control of a service, product or industry that prevents competitionUnionRobber BarronMonopolyCaptain of Industry
- 17. Multiple ChoiceA monopoly is the total or complete control of a service, product or industry that prevents ________________.UnionsCapitalismCompetitionregulation
- 18. Multiple ChoiceIn this political cartoon, who is in charge of the Senate?The US Senatorsthe US ConstitutionThe owners of monopolies/ industrialiststhe American people
- 19. Multiple ChoiceIn this political cartoon, how do monopolistic trusts (like Standard Oil Trust) impact competition?Competition is encouraged by monopolistic trustscompetition is prevented by monopolistic truststhere is no impactthe cartoon makes no statement about it
- 20. Multiple ChoiceCrushed his competitorsRockefellerMorganCarnegieAll of them
- 21. Multiple ChoiceLoaned money to the US government to get it out of bankruptcyRockefellerMorganCarnegieAll of them
- Answer choicesTagsAnswer choicesTags