AnswersUS History A EN1202 - SA - CRUnit Test

Trusts and Big Business Answers

0 verified answers2 views
1
Free Preview

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.
2
Free Preview

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.
3

In which business did Andrew Carnegie create a monopoly?

A
the oil business
B
the automobile business
C
the telephone business
D
the steel business
4

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.
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

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

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
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

Which company was a monopoly during the Gilded Age?

A
Carnegie Steel
B
Microsoft
C
AT&T
D
Allegheny Steel
10

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.

Did you find these answers helpful?