Andrew Carnegie dominated the steel industry on the basis of the Bessemer converter. This technology permitted unskilled men to produce large quantities of steel at relatively low costs. This technology was (a) invented by Carnegie. (b) stolen from the British inventor Bessemer. (c) acquired legally from the British inventor Bessemer. (d) imported from Germany. […]
How does the federal government influence the flow of goods and services into the country and, consequently, create extra profitability or rents in domestic production that would not have been there under free market conditions? (a) tariffs (b) minimum wage laws (c) control of the public domain (d) federal income taxes ANSWER (a)
Between 1810 and 1850, the U.S. population living in the trans-Appalachian states increased significantly. Indicate whether the statement is true or false ANSWER TRUE
Rising agricultural prices and opportunities to own land provided people with incentives to migrate to the trans-Appalachian states. Indicate whether the statement is true or false ANSWER TRUE
By 1860, over one-half of all Southern farms utilized slave labor. Indicate whether the statement is true or false ANSWER FALSE
In which case did the U.S. Supreme Court decide the Constitution was “intended to endure for ages to come and, consequently, to be adapted to various crises of human affairs”? (a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819) ANSWER (c)
In which of the following cases did the U.S. Supreme Court decide that a corporation was an “individual” but not a constitutional citizen? (a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819) ANSWER (d)
Which of the following was NOT a part of Chandler’s (1977) description of the rise of big business in the 19th century? (a) Vertical integration of firms (b) The development of mass production (c) The development of mass distribution (d) The use of central planning to improve production techniques ANSWER (d)
Between 1860 and 1914, the concentration of industrial power did increase. What did members of the general public perceive to be the result of this heavy concentration? (a) Expanded output (b) Lower prices (c) A transfer of income away from consumers toward big businesses (d) All of the above ANSWER (c)
The growth of cities was due to the existence of important scale economies, which include all of the following except (a) Central water and sewer systems (b) Education systems (c) Crime, congestion and pollution (d) Police and fire protection ANSWER (c)
