AnswersHSSUS US History Sem 1 26-27Road to Revolution

Trusts and Big Business Answers

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1
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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.
2
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What was the main reason that Carnegie invested in the Frick Coke Company?

A
He wanted to make sure he could always get fuel for his steel plant.
B
He thought he could help the company become profitable.
C
He wanted to invest in new technology.
D
He was interested in the coal business.
3

Which company was a monopoly during the Gilded Age?

A
Carnegie Steel
B
Microsoft
C
AT&T
D
Allegheny Steel
4

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.
5

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.
6

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.
7

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.
8

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.
9

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.
10

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

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