AnswersAdult Ed SAS- US History S1Monopolies and Trusts

Monopolies and Trusts Answers

0 verified answers
1
Free Preview

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.
2
Free Preview

Which business practice did Rockefeller repeatedly use that helped him succeed in building his oil monopoly?

A
In all his businesses, Rockefeller made a profit and used it to expand or buy other businesses.
B
With every business Rockefeller bought, he would learn about it, sell it at a profit, and buy another business.
C
With every purchase of a refinery, Rockefeller would add new products to his business.
D
In all his businesses, Rockefeller made sure that he controlled all aspects of production.
3

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.
4

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.
5

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.
6

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.
7

A government is laissez-faire when it

A
does not interfere with business affairs and does not regulate its actions.
B
fairly regulates businesses.
C
leaves workers alone and doesn’t regulate unions.
D
fairly regulates workers.
8

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.
9

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.
10

How was Rockefeller able to build his monopoly across the oil industry?

A
He bought up oil refineries, cut costs, and reinvested his profits in other refineries.
B
He confined his business to Ohio so he could buy all the refineries there.
C
He found newer and cheaper ways to refine oil, increasing his profits.
D
He began to sell kerosene as well as oil, expanding his market.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Monopolies and Trusts

Quiz
14 verified answers

Monopolies and Trusts

Quiz
10 verified answers

New American Industries