Chapter 13 US History – Flashcards
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Capitalizm fueled industrialization by
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Encouraging entrepreneurs to establish businesses.
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Which innovation extended the number of hours in a day that Americans could work and play?
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Electricity.
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Which industry most spurred economic growth and innovation in related industries?
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Railroads.
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As farms became mechanized
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Farmers moved to urban areas.
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What punishent would a corporate violator of the Sherman Antitrust Act face?
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A fine not exceeding $10,000,000
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The Sherman Antitrust Act imposed limitations upon which group?
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Large corporations.
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Corporations had the impotant advantage of
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Reducing th financial risk for individual investors.
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In the late 1800s, workers tolerated poor wages and working conditions because they
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Could be replaced easily by other workers.
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Which labor leader began the American Federation of Labor?
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Samuel Gompers
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What was one effect of the events in Haymarket Square?
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Americans turned away from radicalism.
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How did the federal government support employers during times of labor unrest?
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They denied unions recognition as legally protected groups.
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In what field did significant technological innovation occur in the late 1800s?
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Building materials, communications, and transportation.
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In which system does one company control the businesses that make up all phases of a product's development?
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Vertical Integration
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Which arument supports the perception of big business leaders as "captains of industry"?
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Industrialists' support for technology benefited the economy.
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The ICC was formed to
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Oversee railroad operations.
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Horizontal integration differs from vertical integration in that it
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Consolidates many firms involved in the same business into one giant company.
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The federal government formed the Interstate Commerce Commission to oversee
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RAilroad operations across the nation.
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Which of the following limited membership to skilled craftspeople and focused on economic reforms?
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The American Federation of Labor.
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Which event resulted in the execution of four anarchists and the decline of the Knights of Labor?
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The Haymarked Riot of 1886
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In the late 1800s, industrial workers
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Faced low wages and long hours in unsafe working conditions.
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Which labor organization was founded first?
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The Knights of Labor.
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How did Socail Darwinists view poverty?
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They thought that assisting the poor would disrupt the natural selection of the fittest.
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Mass Production
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A system for turning out large numbers of products very quickly and inexpensively.
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Entrepreneur
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A person who invests money in a business venture to make a profit.
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Monopoly
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Complete control of a product or service.
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John D. Rockefeller
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An oil tycoon who used horizontal integration to decrease costs and increase profits.
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Corporation
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A business in which ownership is shared.
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Sweatshop
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A small, hot, dirty workhouse.
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Homestead Strike
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The response to wage cuts at a CArnegie Steel plant in 1892.
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Thomas Edison
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The inventor who wanted to develop affordable lighting for houses.
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Knights of Labor
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A labor union open to workers from any trade.
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Andrew Carnegie
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A steel tycoon who used vertical interation to increase profits.
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