AnswersFL-2100310-United States History Sem 1Trusts and Big Business

Trusts and Big Business Answers

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1
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How did the Bessemer process contribute to the development of Carnegie’s monopoly?

A
It allowed Carnegie to produce higher quality steel more quickly, which increased demand.
B
It made transportation of steel faster and more efficient, lowering Carnegie’s costs.
C
It allowed Carnegie to cut his cost of labor, increasing his profits.
D
It allowed Carnegie to replace coal as a fuel supply, cutting his costs.
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 business practices contributed most to Andrew Carnegie’s ability to form a monopoly?

A
combining his companies into one company and controlling all aspect of steel production
B
focusing on a single aspect of steel production
C
using profits to support charities and greatly improving his reputation
D
increasing his profits every year
4

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

A
Monopolies are formed when they 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 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.
6

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
7

Why did government officials allow monopolies to operate without strong regulations during the Gilded Age?

A
They believed monopolies were responsible for the growth of the economy.
B
They believed monopolies would keep competition alive.
C
They believed monopolies would treat their workers well.
D
They believed monopolies were the most successful way for businesses to make a profit.
8

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.
9

In the Gilded age, how did monopolies affect many small businesses?

A
Monopolies helped small businesses grow.
B
Monopolies forced small businesses to shut down.
C
Monopolies had no effect on small businesses.
D
Monopolies provided customers for small businesses.
10

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.

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