Question 1

According to Alfred Chandler,large vertically integrated firms dominated much of American manufacturing in the early 1900s because

Accepted Answer

A) U.S.manufacturers sought to emulate the production practices of European manufacturers. 
B) U.S.tax laws created strong incentives for vertical integration. 
C) continuous-flow technologies were cost minimizing only when the inflow of inputs and the sale of outputs proceeded without interruption. 
D) larger firms were better able to fight the establishment of labor unions and collective bargaining arrangements. 
A) U.S.manufacturers sought to emulate the production practices of European manufacturers. 
B) U.S.tax laws created strong incentives for vertical integration. 
C) continuous-flow technologies were cost minimizing only when the inflow of inputs and the sale of outputs proceeded without interruption. 
D) larger firms were better able to fight the establishment of labor unions and collective bargaining arrangements.

Question 2

During the 1870s and 1880s,which technological innovation was NOT introduced?

Accepted Answer

A) the roller mill to process oatmeal 
B) steel-bottomed stills 
C) long-distance pipelines 
D) the typewriter 
E)  All of the above are correct. 
A) the roller mill to process oatmeal 
B) steel-bottomed stills 
C) long-distance pipelines 
D) the typewriter 
E)  All of the above are correct.

Question 3

The History of the Standard Oil Company

Accepted Answer

A) was commissioned by John D.Rockefeller in 1911. 
B) set the standard for modern scientific management. 
C) was written by Ida Tarbell. 
D) was highly critical of Standard Oil. 
E)  Both c and d are correct. 
A) was commissioned by John D.Rockefeller in 1911. 
B) set the standard for modern scientific management. 
C) was written by Ida Tarbell. 
D) was highly critical of Standard Oil. 
E)  Both c and d are correct.

Question 4

"Trust busting," including the prosecution of the American Tobacco Company and Standard Oil,was a high priority of _________'s administration.

Accepted Answer

A) Franklin Roosevelt 
B) Ulysses S.Grant 
C) James Garfield 
D) Theodore Roosevelt 
A) Franklin Roosevelt 
B) Ulysses S.Grant 
C) James Garfield 
D) Theodore Roosevelt

Question 5

A "vertically integrated firm" is a firm that

Accepted Answer

A) combines firms which formerly competed. 
B) manages all stages of production,from the production of raw materials to the marketing of the final product,within the firm. 
C) earns zero economic profits due to the highly competitive market within which it operates. 
D) has representatives on its board of directors from many of the companies that it buys from and sells to. 
A) combines firms which formerly competed. 
B) manages all stages of production,from the production of raw materials to the marketing of the final product,within the firm. 
C) earns zero economic profits due to the highly competitive market within which it operates. 
D) has representatives on its board of directors from many of the companies that it buys from and sells to.

Question 6

The charge that Standard Oil engaged in "predatory pricing"

Accepted Answer

A) was the driving force behind the Supreme Court's decision to break up the company. 
B) makes little sense from an economic perspective. 
C) is still subject to debate. 
D) All of the above are correct. 
E)  Only b and c are correct. 
A) was the driving force behind the Supreme Court's decision to break up the company. 
B) makes little sense from an economic perspective. 
C) is still subject to debate. 
D) All of the above are correct. 
E)  Only b and c are correct.

Question 7

A horizontal merger

Accepted Answer

A) combines similar firms that serve separate markets. 
B) combines firms that produce similar products. 
C) enables a company to control each stage of the production process: from raw materials to the final marketing of the product. 
D) enables similar firms to form a cartel. 
A) combines similar firms that serve separate markets. 
B) combines firms that produce similar products. 
C) enables a company to control each stage of the production process: from raw materials to the final marketing of the product. 
D) enables similar firms to form a cartel.

Question 8

Between 1860 and 1910,value added by the top ten manufactures roughly

Accepted Answer

A) doubled. 
B) tripled. 
C) increased by 500% (a factor of five). 
D) increased by 1000% (a factor of ten). 
A) doubled. 
B) tripled. 
C) increased by 500% (a factor of five). 
D) increased by 1000% (a factor of ten).

Question 9

A monopsony is a market in which

Accepted Answer

A) one firm is the sole producer of a good or service. 
B) one firm is the sole buyer of a good or service. 
C) firms encourage competition by starting "price wars" among competitors. 
D) firms collude in setting prices and levels of output. 
A) one firm is the sole producer of a good or service. 
B) one firm is the sole buyer of a good or service. 
C) firms encourage competition by starting "price wars" among competitors. 
D) firms collude in setting prices and levels of output.

Question 10

The considerable rise of manufacturing in the last half of the 19th century has become known as

Accepted Answer

A) the Great Leap Forward. 
B) the Industrial Revolution. 
C) the Second Industrial Revolution. 
D) the Ascendancy of Manufactures. 
A) the Great Leap Forward. 
B) the Industrial Revolution. 
C) the Second Industrial Revolution. 
D) the Ascendancy of Manufactures.

Question 11

What best describes the changes in steel production from 1860-1910?

Accepted Answer

A) The open-hearth process quickly became the dominant production process after it was invented. 
B) Technological change in steel production changed relatively slowly. 
C) No technological changes occurred in the steel industry. 
D) The production of steel stayed constant through this period,but it became much more efficient. 
A) The open-hearth process quickly became the dominant production process after it was invented. 
B) Technological change in steel production changed relatively slowly. 
C) No technological changes occurred in the steel industry. 
D) The production of steel stayed constant through this period,but it became much more efficient.

According to Alfred Chandler,large vertically integrated firms dominated much of American manufacturing in the early 1900s because

During the 1870s and 1880s,which technological innovation was NOT introduced?

The History of the Standard Oil Company

"Trust busting," including the prosecution of the American Tobacco Company and Standard Oil,was a high priority of _________'s administration.

A "vertically integrated firm" is a firm that

The charge that Standard Oil engaged in "predatory pricing"

A horizontal merger

Between 1860 and 1910,value added by the top ten manufactures roughly

A monopsony is a market in which

The considerable rise of manufacturing in the last half of the 19th century has become known as

What best describes the changes in steel production from 1860-1910?

Economic History

Founding the Colonies

Colonial Economic Activities

The Economic Relations of the Colonies

Economic Progress and Wealth

Three Crises and Revolt

Hard Realities for a New Nation

Land and the Early Western Movements

Transportation and Market Growth

Market Expansion Industry in First Transition

Labor During the Early Industrial Period

Money and Banking in the Developing Economy

The Entrenchment of Slavery and Regional Conflict

War, Recovery and Regional Divergence

Agricultures Western Advance

Railroads and Economic Change

The Emergence of Americas Labor Consciousness

Money, Prices, and Finance in the Postbellum ERA

Commerce at Home and Abroad

Mobilizing for War

The Roaring Twenties

The Great Depression

The New Deal

World War II

The Changing Role of the Federal Government

Government the Business Cycle After World War II

Manufacturing, Productivity, and Labor

Achievements of the Past, Challenges for the Future

Filters

Exam 17: Industrial Expansion and Concentration

According to Alfred Chandler,large vertically integrated firms dominated much of American manufacturing in the early 1900s because

During the 1870s and 1880s,which technological innovation was NOT introduced?

The History of the Standard Oil Company

"Trust busting," including the prosecution of the American Tobacco Company and Standard Oil,was a high priority of _________'s administration.

A "vertically integrated firm" is a firm that

The charge that Standard Oil engaged in "predatory pricing"

A horizontal merger

Between 1860 and 1910,value added by the top ten manufactures roughly

A monopsony is a market in which

The considerable rise of manufacturing in the last half of the 19th century has become known as

What best describes the changes in steel production from 1860-1910?

Economic History

Founding the Colonies

Colonial Economic Activities

The Economic Relations of the Colonies

Economic Progress and Wealth

Three Crises and Revolt

Hard Realities for a New Nation

Land and the Early Western Movements

Transportation and Market Growth

Market Expansion Industry in First Transition

Labor During the Early Industrial Period

Money and Banking in the Developing Economy

The Entrenchment of Slavery and Regional Conflict

War, Recovery and Regional Divergence

Agricultures Western Advance

Railroads and Economic Change

The Emergence of Americas Labor Consciousness

Money, Prices, and Finance in the Postbellum ERA

Commerce at Home and Abroad

Mobilizing for War

The Roaring Twenties

The Great Depression

The New Deal

World War II

The Changing Role of the Federal Government

Government the Business Cycle After World War II

Manufacturing, Productivity, and Labor

Achievements of the Past, Challenges for the Future

Filters