What Do Laissez Faire Supporters Believe About Tariffs

Question: How much larger was the Gross National Product (GNP) in 1914 than at the end of the Civil War?

Answer: 8 times greater

Question: How did a growing population help the nation's industrialists?

Answer: More people= more workers, and created a greater demand for the consumer goods manufactures by factories

Question: What did laissez-faire supporters believe about the role of government in economic affairs?

Answer: They believed the government shouldn't interfere in the economy other than to protect private property rights and maintain peace.

Question: Who are the people that risk capital in order to organize and run a business?

Answer: entrepreneurs

Question: What do laissez-faire supporters believe about tarriffs?

Answer: Didn't believe in high tariffs.

Question: Because of a ____________ in California, about 10,000 workers from _____ were hired

Answer: shortage of labor, china

Question: To make rail service safer and more _______, the American Railway Association divided the country into 4 ______.

Answer: reliable, time zones

Question: During the 1850s and 1860s, the federal land grant system awarded railroad companies _________ acres of land.

Answer: more than 120 million

Question: The ___________ scandal involved public officials and stockholders of the __________________.

Answer: credit mobilier, Union Pacific Railroad.

Question: How were corporations able to achieve economies of scale?

Answer: with money they raised from the sale of stock, corporations could invest in new technologies, hire a large workforce, and purchase many machines, increasing their efficiency.

Question: Why were American courts and legislatures suspicious of pools?

Answer: because they interfered with competition and property rights.

Question: How did department stores change the shopping experience?

Answer: Made shopping seem glamorous and exciting. Provided a huge selection of products in one store.

Question: How did some retailers reach millions of people in rural areas in the late 1800s?

Answer: They issued mail-order catalogs

Question: When workers formed a union, companies often used a _______ to break it.

Answer: lockout

Question: Critics of the union movement charged that the _________ showed how unions were dominated by _________.

Answer: Haymarket riot, dangerous radicals

Question: What conclusion does Engel reach about the political freedom of the working people?

Answer: His conclusion is as long as working men are economically enslaved, they can not be politically free.

Question: What are rebates?

Answer: a partial refund to someone who has paid too much $ for tax, rent, or a utility.

Question: Explain two justifications that Rockefeller gives for the railroad rebates.

Answer: 1. It was the railroads way of business, so he was helping them. 2.Railroads wanted to enlarge their freight traffic, and that would've helped Rockefeller and other businesses.

Question: T or F, In 1870, America was a geographically isolated country

Answer: TRUE

Question: In May of 1869, Central Pacific and Union Pacific joined at what town which completed the rail road form coast to coast?

Answer: Promontory Point, Utah

Question: What city did Carnegie establish his steel industry?

Answer: Pittsburg

Question: Who struck oil in 1859 in Titusville, PA?

Answer: Edwine L. Drake

Question: Rockefeller controlled ___% of the world's oil trade

Answer: 90

Question: T or F; Thomas Edison invented the lightbulb

Answer: FALSE

Question: The _____ Act of 1862 promoted the settlement of publicly owned land in the Great Plains

Answer: Homestead

Question: T or F; By 1900, most homesteaders were successful.

Answer: FALSE

Question: T or F; Nearly 4 million long horned steer roamed the Texas plains in 1860.

Answer: TRUE

Question: In 1877 pay cuts caused ______ and _____________ to strike.

Answer: baltimore, ohio rail workers

Question: _________ led the American Federation of Labor

Answer: Samuel Gompers

Question: The completion of the transcontinental rail road had at long last fulfilled the march of _________________.

Answer: Manifest Destiny.