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An example of a technological innovation that increased the country’s natural resource base is _____
The oil drill
How did laissez-faire policies encourage economic growth in the late 1800s?
They allowed entrepreneurs to open businesses with little regulation
What was one effect of the Industrial Revolution in the US?
The cost of many goods made in the US decreased
Why did the South’s dependence on a single cash crop after the Civil War hurt the region’s economy?
It proved risky when prices fell and pests destroyed crops
The electric streetcar….
Encouraged urban workers to live outside of larger cities
Which of the following is an advantage of forming a corporation?
It limits the risk to investors, who can lose only the money they invest
The point of a cartel was to…..
Keep prices high
One major way that horizontal integration helped businesses lower production costs was by….
Merging competing firms
Why did business leaders, such as Andrew Carnegie, set up universities, museums, and libraries?
To help the disadvantaged through education
Which of the following statements about the interstate commerce commission is true?
It was the first federal entity to monitor business practices
Business owners generally paid low wages in factories because….
Keeping wages low meant lower production costs
Child labor laws were passed in response to
Children’s health issues and lack of school attendance
Labor unions generally formed as a result of…
Worker’ desire to improve working conditions and increase wages
Compared to the Knights of Labor, the American Federation of Labor was…
More focused on specific issues, like wages and working conditions
Why did the federal government become involved in the American Railway Union’s strike against Pullman?
It involved interstate commerce and mail movement
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Flashcard (38)