Question 1

Andrew Carnegie's system of vertical integration

Accepted Answer

Andrew Carnegie's system of vertical integration involved combining all aspects of an industry, from the raw materials to the final product, within a single company. This allowed for better efficiency and control over the production process.

Question 2

When Europeans owned or invested in private companies in the United States, they generally

Accepted Answer

Europeans generally let Americans manage the business unless there was an economic crisis. This allowed for the local knowledge and experience of the American managers to be utilized for the success of the company.

Question 3

One of the methods by which post-Civil War business leaders increased their profits was

Accepted Answer

Business leaders increased their profits by eliminating as much competition as possible. This was done through tactics such as consolidating smaller businesses into larger conglomerates through horizontal and vertical integration, forming trusts and monopolies, and using predatory pricing to drive competitors out of business. This allowed them to dominate their respective industries and set prices as they saw fit, increasing their profits at the expense of consumer choice and competition.

Question 4

Match each entrepreneur below with the field of enterprise with which he is historically identified. 
A. Andrew Carnegie
B. John D. Rockefeller
C. J. Pierpont Morgan
1)Interlocking directorate
2)Trust
3)Vertical integration
4)Pool

Accepted Answer

Andrew Carnegie is historically associated with vertical integration, John D. Rockefeller is historically associated with Trusts, and J. Pierpont Morgan is historically associated with interlocking directorates. Choice C correctly matches each entrepreneur with their corresponding field of enterprise.

Question 5

Two technological innovations that greatly expanded the industrial employment of women in the late nineteenth century were the

Accepted Answer

The typewriter and telephone both required clerical and communication skills, which were considered to be suitable for women. As a result, many women found employment as typists, telephone operators, and other clerical jobs in offices, expanding their opportunities in the industrial workforce.

Question 6

The single largest source of a critical raw material that fueled early American industrialization was the

Accepted Answer

The Mesabi iron range of Minnesota provided a vast amount of iron ore, which was the critical raw material needed for early American industrialization, particularly for the steel industry. It supplied the high-quality, low-cost iron ore that helped transform the US into an industrial powerhouse in the late 19th and early 20th centuries.

Question 7

Efforts to regulate the monopolizing practices of railroad corporations first came in the form of action by

Accepted Answer

State legislatures were the first to take action against the monopolizing practices of railroad corporations, often through the establishment of regulatory commissions to oversee railroad rates and practices.

Question 8

J.P. Morgan undermined competition by placing officers of his bank on the boards of supposedly independent companies that he wanted to control. This method was known as a(n)

Accepted Answer

The method described in the question is known as interlocking directorates, where one person serves on the board of directors of multiple companies, allowing them to influence and control those companies.

Question 9

The first federal regulatory agency designed to protect the public interest from business combinations was the

Accepted Answer

The first federal regulatory agency designed to protect the public interest from business combinations was the Interstate Commerce Commission. It was established in 1887 to regulate railroads and their monopolistic practices, and was the precedent for antitrust regulation. The other options listed were established after the Interstate Commerce Commission.

Question 10

John D. Rockefeller's organizational technique of horizontal integration involved

Accepted Answer

Horizontal integration involves consolidating many firms in the same business to monopolize a market, which Rockefeller did by forcing competitors to assign stock to Standard Oil and integrating their operations.

Question 11

The American system of mass manufacture of standardized, interchangeable parts provided strong incentives for U.S. capitalists to

Accepted Answer

The mass manufacture of standardized, interchangeable parts allowed for the replacement of skilled labor with machinery, which increased efficiency and profitability for capitalists.

Question 12

Match each entrepreneur below with the field of enterprise with which he is historically identified. 
A. Andrew Carnegie
B. John D. Rockefeller
C. J. Pierpont Morgan
D. James Duke
1)Steel
2)Oil
3)Tobacco
4)Banking

Accepted Answer

Andrew Carnegie is known for steel, John D. Rockefeller for oil, J. Pierpont Morgan for banking, and James Duke for tobacco.

Question 13

Which of the following was not among the technologies invented or improved by Thomas A. Edison?

Accepted Answer

The electric dynamo was not among the technologies invented or improved by Thomas A. Edison. He did, however, invent or significantly improve the electric light bulb, the phonograph, the mimeograph, and the motion picture.

Question 14

All of the following were important factors in post-Civil War industrial expansion except

Accepted Answer

Immigration restrictions would not have been a factor in post-Civil War industrial expansion, as the restrictions did not come into effect until the late 19th and early 20th centuries. The other choices all played important roles in the expansion of industry during this time period.

Question 15

Among the countries that provided the largest amounts of foreign capital investment in American industry were

Accepted Answer

Britain, France, and the Netherlands provided the largest amounts of foreign capital investment in American industry during the late 19th and early 20th centuries.

Question 16

The major incentive that drove captains of industry to invent machines was

Accepted Answer

The answer of The major incentive that drove captains of...

Question 17

Which of the following was not among the critical U.S. raw materials, delivered by railroads to factories, that fueled early American industrialization?

Accepted Answer

While rubber was important for the development of transportation, it was not considered a critical raw material for industrialization. The other options (iron, coal, copper, and oil) were all crucial for supporting various industries during the early stages of American industrialization.

Question 18

The vast, integrated, continental U.S. market greatly enhanced the American inclination toward

Accepted Answer

The vast, integrated, continental U.S. market encouraged mass manufacturing of standardized industrial products because it created a large customer base and allowed for economies of scale in production. This led to the development of the assembly line and other efficient manufacturing techniques that allowed for the mass production of goods.

Question 19

The steel industry owed much to the inventive genius of

Accepted Answer

Henry Bessemer revolutionized the steel industry with his invention of the Bessemer process, which made steel production more efficient and cost-effective.

Question 20

In the case of Wabash, St. Louis, and Pacific Railroad Company v. Illinois, the U.S. Supreme Court held that state legislatures could not regulate railroads because

Accepted Answer

The U.S. Supreme Court held that state legislatures could not regulate railroads because railroads were interstate businesses and could not be regulated by any single state. This decision led to the creation of the Interstate Commerce Commission to regulate commerce between states.

Quiz 3: Industry Comes of Age, 1865-1900