CHAPTER 11
Rise of Corporate Capitalism in the United States,
1865 1900
MULTIPLE CHOICE
47. The industrial revolution in the US occurred
a. in the late 18th century
b. in the late 19th century
c. in the early 20th century
d. in the early 19th century
48. Gross private investment is defined as
a. the total amount spent for plants, equipment and other items in one year.
b. the total accumulated amount spent for plants, equipment, and other items.
c. the total amount spent by individual households on stocks and bonds.
d. the total amount spent for plants, equipment and other items in one year minus
depreciation.
49. A corporation is defined as
a. a business enterprise with significant monopoly power.
b. a business enterprise owned by a single individual.
c. a business enterprise owned by the government.
d. a business enterprise with many investors each owning a share of the assets.
50. A common form of organization at the turn of the 20th a
trust?
a. an enterprise owned by many investors, each owning a share of the assets.
b. a single firm that takes over all its competitors and exerts monopoly power in an industry.
c. an arrangement in which stockholders in different corporations assign their shares to a
single trustee who then operates as a monopoly.
d. the legal management of personal and financial affairs for a minor child.
51.
a. wealthy, powerful and ruthless individuals who managed to dominate a number of
industries in the late 19th century.
b. a group of European aristocrats who formed a notorious gang of thieves in the early 19th
century.
c. a group of spectacular pilots who dominated warfare during World War I.
d. a group of individuals who decide to act on their own to pursue and punish wrongdoers.
52. Three of the most famous robber barons and the industries they dominated are:
a. John D. Rockefeller in oil, Andrew Carnegie in steel, and Cornelius Vanderbilt in
railroads.
b. Adam Smith in pin-making, David Ricardo in corn, and Thomas Malthus in book
publishing.
c. John D. Rockefeller in philanthropy, Joseph Kennedy in liquor distribution, and Ludwig
von Mises in book publishing.
d. John L. Lewis in coal mining, Samuel Gompers in cigar-making, Sidney Hillman in
textiles.
53. The first federal regulatory agency was
a. the Interstate Commerce Commission.
b. the Securities and Exchange commission.
c. the Federal Communications Commission.
d. the Environmental Protection Agency.
54. The first US state to give women the right to vote was
a. Delaware in 1865.
b. Wyoming in 1890.
c. New York in 1902.
d. Massachusetts in 1915.
55. A secret agreement between two or more parties, usually for fraudulent, deceitful or illegal
purposes is called
a. collusion.
b. cooperation.
c. connivance.
d. deception.
56.
a. groups of people organized at the local level.
b. groups of people organized via the internet.
c. the part of grass that extends below the soil.
d. a rock and roll band from the early 1970s.
57. The purpose of the Interstate Commerce Commission was to regulate
a. railroads.
b. banking.
c. steel.
d. unions.
58. The Interstate Commerce Commission
a. still exists.
b. was abolished in 1995.
c. was abolished in 1888.
d. was renamed as the Department of Homeland Security.
59. A sharecropper is defined as
a. a farmer who leases his/her land and pays a fixed amount of money per year to the
landowner.
b. a farmer who leases his/her land and pays a share of his crop to the landowner as rent.
c. a person who is employed by a farmer and receives his wages in the form of crops.
d. two farmers who agree to work together to produce a single crop on their land.
60. Which amendment to the US Constitution ended slavery?
a. the 4th amendment.
b. the 13th amendment.
c. the 19th amendment.
d. the 25th amendment.
APPENDIX 11.1
Socialist Critique of Corporate Capitalism, 1865 1900
MULTIPLE CHOICE
61. Eduard Bernstein disagreed with Karl Marx and argued for
a. a dramatic, revolutionary change to socialism.
b. a gradual, evolutionary change to socialism.
c. a reform and expansion of capitalism.
d. an outright rejection of socialism.
62. Rosa Luxemburg was a well-known
a. victim of the Holocaust.
b. leader of German Social Democrats in the late 19th and early 20th centuries.
c. Duchess and current ruler of the country of Luxemburg.
d. an American, who along with her husband, Julius, were executed for espionage in the
early 1950s.