Industrial Advancements Quiz
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Questions and Answers

Who patented the Bessemer process?

  • Emile Martin
  • William Siemens
  • Henry Bessemer (correct)
  • Friedrich Siemens
  • Which process beat out the Bessemer system by 1909?

  • Open-Hearth process (correct)
  • Oxygen Furnace
  • Siemens-Martin process
  • Electric Furnace
  • What is the primary support of the steel industry during the time of the Bessemer process?

  • Open-Hearth process
  • Oxygen Furnace
  • Steel train rails (correct)
  • Electric Furnace
  • Which businessman dominated the steel industry throughout the late 1800s?

    <p>Andrew Carnegie</p> Signup and view all the answers

    Which country is the largest producer of steel today?

    <p>China</p> Signup and view all the answers

    Which form of consolidation was popular in the railroad industry during the era of industry consolidation and regulation?

    <p>Pools</p> Signup and view all the answers

    What was the central economic institution in American capitalism during the corporate revolution period (1895-1907)?

    <p>Giant corporations</p> Signup and view all the answers

    Which industry saw approximately 266 businesses collapsing into the shells of other corporate entities each year during the corporate revolution period (1895-1907)?

    <p>Railroad industry</p> Signup and view all the answers

    Who organized the first trust, Standard Oil, during the era of industry consolidation and regulation?

    <p>Rockefeller</p> Signup and view all the answers

    Which act led to the breakup of interstate pools in the railroad industry during the era of industry consolidation and regulation?

    <p>Commerce Act</p> Signup and view all the answers

    Which act supplemented and supported the Sherman Act and prohibited price discrimination and inter-company stockholding?

    <p>Clayton Antitrust Act</p> Signup and view all the answers

    What was the initial issue with the application of the Sherman Act?

    <p>It was too vague</p> Signup and view all the answers

    What enabled firms to combine if it was to export goods?

    <p>Webb-Pomerene Act</p> Signup and view all the answers

    Which committee could demand reports from companies and its primary purpose is consumer protection?

    <p>Federal Trade Commission</p> Signup and view all the answers

    What did the Northern Securities case signal?

    <p>The need for stricter regulation</p> Signup and view all the answers

    Who created the Tennessee Valley Authority (TVA)?

    <p>Roosevelt</p> Signup and view all the answers

    What was the main purpose of the Rural Electrification Administration?

    <p>To create nonprofit electrical cooperatives</p> Signup and view all the answers

    Who was known as the 'Father of alternating current'?

    <p>George Westinghouse</p> Signup and view all the answers

    What was the main criticism of the Tennessee Valley Authority (TVA)?

    <p>It was accused of being socialist</p> Signup and view all the answers

    Who had a passion for inventing and showmanship but struggled with running a business?

    <p>Thomas Edison</p> Signup and view all the answers

    Which act separated commercial and investment banking?

    <p>Banking Act of 1933</p> Signup and view all the answers

    What did the resurgence of the American economy after WWII provide an opportunity for bankers to do?

    <p>Finance the expansion of companies</p> Signup and view all the answers

    How many of the original companies from 1909 were still in the top 100 by 1948?

    <p>36</p> Signup and view all the answers

    What role did the iron and steel industries play in the early 1900s?

    <p>They dominated the industries</p> Signup and view all the answers

    What industry became the second largest industry after coal post-Civil War?

    <p>Steel</p> Signup and view all the answers

    Before moving into the steel industry, what was one of Carnegie's jobs/roles?

    <p>Working in the tobacco industry</p> Signup and view all the answers

    Which company captured over 60% of the tobacco industry by 1900?

    <p>American Tobacco Company</p> Signup and view all the answers

    Which company had a virtual monopoly over oil refining and transportation in the East by 1880?

    <p>Standard Oil</p> Signup and view all the answers

    Who formed The Southern Improvement Company in 1870 along with John Rockefeller?

    <p>Carnegie</p> Signup and view all the answers

    Which labor union aimed to overthrow capitalism and replace it with communism or socialism?

    <p>IWW</p> Signup and view all the answers

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