Unit Test

Question 1

Which statement most accurately represents Carnegie’s effect on the steel industry between 1865 and 1892?

Revolt · Accepted Answer

Carnegie realized that steel was the metal of the future and began to invest in or buy up potential competitors.

Question 2

Which statement best represents Carnegie’s business philosophy?

Revolt · Accepted Answer

Competition and inequality are necessary for human advancement.

Question 3

In the spaces below, list two ways in which John D. Rockefeller and Andrew Carnegie were similar.

Revolt · Accepted Answer

answer

Question 4

Which similarities did you include in your answer?

Revolt · Accepted Answer

Both started work at an early age.; Both learned important skills in their first jobs.; Both built monopolies in their industries.; Both wanted to remove as many of their competitors as possible.

Question 5

Which statement best represents Rockefeller’s business philosophy?

Revolt · Accepted Answer

He believed that his ability to make money was a gift and that he could use his wealth to help others.

Question 6

Which of the following is an example of a government’s laissez-faire approach to business and the economy?

Revolt · Accepted Answer

Congress votes down a law providing a loan to a failing car manufacturer.

Unit Test Answers

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