Chapter 5 Quiz NAME: _______________________ 1. Cornelius Vanderbilt achieved great success because of his ability to consolidate A. oil refineries C. railroad lines B. steel processes D. telegraph lines

2.Based on the map at right and your own knowledge, during what time period were most of the railroad tracks shown on the map laid? A. The Industrial Revolution B. the Renaissance C. World War I D. The Democratic Era

3. This slogan was used in the late 1800s to promote a major goal of

A. farmersB. politiciansC. industrialistsD. organized labor

4. Corporations issue stock toA. allow them to open factories in rural areas C. raise large amounts of money and spread financial riskB. allow them to lower prices on their products D. create a large business by buying many small businesses

5. Some railroad investors discovered they could make more money byA. leaking information C. trading on marginB. selling stock D. obtaining and selling government land grants

6. According to the concept of laissez-fare, prices and wages are best determined by theA. individual states C. gross national productB. federal government D. free market

7. Labor unions were formed toA. protect factory owners from workers’ anger C. make factories safer and prevent lockoutsB. improve workers’ wages and make factories safer D. prevent lockouts and fight deflation

8. A steel company that owns the coal mines, limestone quarries, and iron ore fields it depends on is an example ofA. capital integration C. business integrationB. vertical integration D horizontal integration

9. To make rail service more reliable, the American Railway Association did WHAT in 1883?A. set standards for construction materials C. drew latitude and longitude lines for the countryB. set a maximum number of cars that a train could pull D. divided the country into standardized time zones

10. When a single company gains control of an entire market, it is known asA. a monopoly C. an oligarchyB. a corporation D. an integration

11. The primary cause of the labor strikes in the list at right was the A. entry of women into the workplaceB. decision of business owners to integrate factoriesC. inability of immigrants to find employmentD. low wages of workers compared to factory owners

12. Supporters of __________ believe that the government should not interfere in the economy other than to protect private property rights.

A. high tariffs C. industrial regulationsB. laissez-faire D. high taxes for private individuals

13. According to this chart, the government reacted to unhappy employees in 1877 by A. calling out troops to restore order B. following the wishes of the workers C. issuing a court order D. resolving to raise wages

14. The Pullman strike was halted by A. the Pullman Company B. the American Railway Union C. federal troops D. a court order

15. Which of the following choices best describes the diagram above? A. horizontal integration C. trust company B. vertical integration D. holding company

16. The graphic at right shows various ways that business leaders of the late 1800s tried to eliminate competition. Which of these would best replace the question mark? A. fixed costs B. operating costs C. monopolies D. stock sales

17. Many people feared big business monopolies in the late nineteenth century because they thought A. it would mean they would lose their jobs B. it would result in widespread horizontal integration C. large corporations would be able to charge whatever they wanted for their products D. unions would dissolve