AnswersEAP-Virginia and US History A CRNew American Industries

New American Industries Answers

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1
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Which statement best represents Rockefeller’s business philosophy?

A
He believed it was his right to make as much money as he possibly could and that he should keep the money he made.
B
He believed that his gift of making money came from his hard work.
C
He believed that his ability to make money was a gift and that he could use his wealth to help others.
2
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Which similarities did you include in your answer?

A
Both started work at an early age.
B
Both learned important skills in their first jobs.
C
Both built monopolies in their industries.
D
Both wanted to remove as many of their competitors as possible.
3

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

A
During a strike, the government sends negotiators to work out a deal between the company and its workers.
B
The government brings a court case against a telecommunications company that has a monopoly in the state of Colorado.
C
Congress votes down a law providing a loan to a failing car manufacturer.
4

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

A
Carnegie built a monopoly by remaining focused on iron ore and coke supplies.
B
Carnegie was reluctant to change production methods and processes.
C
Carnegie stayed with the Pennsylvania Railroad until he opened his own plant and started making steel.
D
Carnegie realized that steel was the metal of the future and began to invest in or buy up potential competitors.
5

Which statement best represents Carnegie’s business philosophy?

A
We welcome it when people’s conditions and environments are equal.
B
The law of competition is not beneficial to the human race.
C
Competition and inequality are necessary for human advancement.

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New American Industries Answers — EAP-Virginia…