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)
Date: September 10th, 2020
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)
Date: September 10th, 2020
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)
Date: September 10th, 2020
The proportion of Southern farms relying on slaves rose between 1840 and 1860 . Plus, the scale economies of slavery aggravated the chronic shortage of good Southern farmland. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
According to Chandler (1977), the major event in business development in 1895–1904 was (a) the Granger cases. (b) Munn v Illinois (1877). (c) the rise of vertically integrated firms. (d) the merger wave. ANSWER (d)
Date: September 10th, 2020
Why do historians argue that there was a mixture of enterprise, partly private and partly governmental, in building our transportation system? (a) Private individuals took the initiative and were able to extract special privileges and financial assistance from government for the purpose of enhancing their profits. (b) Political leaders, who wanted transportation improvement for reasons […]
Date: September 10th, 2020
What was the first federal government agency established to regulate business? (a) The Federal Trade Commission (b) The Securities and Exchange Commission (c) The Federal Power Commission (d) The Interstate Commerce Commission ANSWER (d)
Date: September 10th, 2020
“Internal economies” derive from all of the following except (a) Division of labor (b) Production of standardized products (c) The use of mass production techniques (d) There is no “except”; all of the above apply ANSWER (d)
Date: September 10th, 2020
The major problem with the Sherman Antitrust Act of 1890 was that (a) it was struck down by the Supreme Court. (b) the government lacked the tools to enforce it. (c) its language was too vague to be applied the ways desired by Congress. (d) businesses found ways to use the Act clearly in their […]
Date: September 10th, 2020
Historians generally agree that the railroads (a) were absolutely essential for industrial growth in the 19th century. (b) were an indispensable “leading sector.” (c) were our first “giant” enterprises. (d) provided a “social saving” of 90% or more. ANSWER (c)
Date: September 10th, 2020
