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.