Question 1
This financier was popularly known as the worst man in the world.
A) Andrew Carnegie
B) Jay Gould
C) John Jacob Astor
D) John D. Rockefeller
Question 2
The Gospel of Wealth:
A) justified the ruthless behavior of entrepreneurs like Rockefeller.
B) held that greed is good.
C) held that God always helps the poor.
D) advocated a strong welfare system.
Question 3
The most important result of the Sherman Antitrust Act by 1902 was to:
A) break up the Standard Oil trust.
B) inhibit the formation of trade unions.
C) bring thousands of new firms into the market.
D) clog the courts with unnecessary cases.
Question 4
Horizontal combinations like the Standard Oil trust:
A) helped to raise workers' wages.
B) controlled every step of production from materials to finished products.
C) allowed for unlimited competition.
D) controlled the market for a single product.
Question 5
John D. Rockefeller's horizontal combination was so successful that he controlled this percent of the nation's oil refining by 1880.
A) 50
B) 75
C) 80
D) over 90
Question 6
Sears, Roebuck and Company and Montgomery Ward, the great mail order houses, were located in Chicago because it was:
A) America's largest city.
B) the center of the consolidated rail system.
C) the place where most consumer goods were manufactured.
D) positioned to take advantage of transport on the Great Lakes.
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