AnswersDRHS GA-GSE US History AUnit Test

Monopolies and Trusts Answers

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Why was Carnegie Steel able to offer its product more cheaply than its competitors?

A
Carnegie made an inferior product, so it was less expensive to produce.
B
Carnegie cut corners in his production, lowering his costs.
C
Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.
D
Carnegie avoided using the Bessemer process, decreasing the cost of production.
2
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Which company was a monopoly during the Gilded Age?

A
Carnegie Steel
B
Microsoft
C
AT&T
D
Allegheny Steel
3

What was the core business that made Standard Oil a horizontally integrated monopoly?

A
refining oil
B
transporting oil to customers
C
building oil pipelines
D
finding new uses for oil
4

Which statement is true about the relationship between a monopoly and its competition in a market?

A
Monopolies are formed when businesses buy out their competition in a market.
B
Competition in the market helps monopolies to develop.
C
Competition in the market ensures that monopolies charge fair prices.
D
Monopolies thrive when they have competition.
5

How much did the government regulate business practices during the Gilded Age?

A
It barely regulated businesses at all.
B
It strictly regulated the railroad industry, but left other businesses alone.
C
It regulated the steel industry and the railroad industry, but no other businesses.
D
It strictly regulated all businesses.
6

How do monopolies affect the price of goods?

A
Monopolies always result in higher consumer prices.
B
Monopolies always result in lower consumer prices.
C
Monopolies have no effect on the cost of goods.
D
Monopolies can lower and raise their prices at will.
7

What is the main reason that the American public turned against monopolies?

A
They saw the price of goods rise as their wages decreased.
B
They saw the price of goods rise as their wages increased.
C
They resented the wealth of the big business owners.
D
They were concerned about smaller businesses.
8

During the Gilded Age, how did the US Congress act to increase business competition?

A
Congress passed laws that would control the growth of monopolies.
B
Congress passed laws that guaranteed a minimum wage.
C
Congress passed laws that ensured workplace safety.
D
Congress passed laws that supported laissez-faire policies.
9

The Cleveland Massacre was

A
a takeover by Standard Oil of the refineries in Cleveland.
B
a labor dispute at Standard Oil in Cleveland that turned violent.
C
an attempt to stop Standard Oil from becoming a monopoly.
D
a failed attempt by Standard Oil to take over other refineries.
10

What made Standard Oil a horizontal integration monopoly?

A
It owned ninety percent of US oil refineries.
B
It controlled all aspects of oil production.
C
It operated all across the United States.
D
It formed a trust.

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