Rise of Industry
What is a tariff?
Someone who built his railroad fortune by taking and making bribes and using his power and privilege to cut corners.
Who was Jay Gould?
When a company or factory only has to pay things when it's working (like wages, utilities, materials, etc) those are called ______ costs.
What are operating costs?
The leader of the AFL
Who was Samuel Gompers?
When the prices of items goes DOWN and the value of money goes UP over a long time period.
What is deflation?
A term from French meaning to leave something alone, to let it be.
What is Laissez-faire?
The name used to describe the government giving territory to individuals or companies that would build railroads; they could then sell that territory to make their investment back
What is a land grant?
One of the wealthiest men at the time, he made his fortune in the steel industry...and then gave over $3.5 million away to build libraries and other public institutions.
Who was Andrew Carnegie?
The location of a riot in Chicago where a bomb killed a policemen, and where anarchists were blamed for the resulting chaos.
What was Haymarket Square (riot)
The total value of all the products made in a country over a certain period of time.
What is GNP (Gross National Product)?
The inventor of the telephone.
Who was Alexander Graham Bell?
A railroad entrepreneur whose Great Northern Railroad was built without land grants from the federal government.
Who was James J Hill?
When the price of a single item drops because a business is able to make many of those items, lowering the cost to make each one, it is known as an:
What is an economy of scale?
The Pullman Railcar strike was resolved when they attached these types of railway cars to the Pullman cars.
What are US mail cars?
The pattern created on a map by the alternating square miles of land received by railroad companies as they built new rail lines.
What is Checkerboarding?
Someone who invests money in the hopes of making more money.
What is an entrepreneur?
A by-product of the transcontinental railroad and the need for everyone along a train line to agree what time it was.
What are time zones?
Someone who buys a thing, or uses a service, is known as a(n)
What was the AFL (American Federation of Labor)?
A company whose only purpose is to buy and hold shares in other companies.
What is a Holding Company?
The inventor of the light bulb and motion pictures.
Who was Thomas Edison?
The Union Pacific and the Central Pacific finally met and completed the first transcontinental railroad in this state.
What is Utah?
One of the wealthiest men at the time, he made his fortune in the petroleum/oil industry and used horizontal integration to absorb most of his competitors.
Who was John Rockefeller?
What it's called when all workers are members of, or must join, a particular union.
What is a "Closed Shop"?
The majority of workers in teaching, domestic work, clerical work, and garment and apparel manufacturing.
Who were women?