Vocab
The total value of all goods and services a country produces during a year
Gross National Product (GNP)
Who invented the phonograph?
Thomas Edison
Allowed Union Pacific and Central Pacific to build a transcontinental railroad
Pacific Railway Act
Millions left ______ to work in factories and mines.
Farms
Someone who puts money into a company in order to gain a future financial reward
Investor
A French phrase meaning "let people do as they choose."
Laissez-faire
Who invented the lightbulb?
Thomas Edison
How much were the Chinese workers paid per day working the Central Pacific Railroad?
$1
What raw materials were important the Industrial Revolution?
Timber, coal, copper, and iron
An organization owned by many people but treated by law as though it were a person
Corporation
People who risk their capital in organizing and running a business
Entrepreneur
Who invented the first telephone?
Alexander Graham Bell
People who loot an industry and become rich unethically
"Robber Barons"
When did the Industrial Revolution reach the United States?
Early 1800s
Total control of a type of industry by one person or one company
Monopoly
A company whose primary business is owning a controlling share of stock in other companies
Holding Company
What was the main purpose of the telegraph table across the Atlantic?
Faster communication between the United States and Europe
Who built the Great Northern Railroad?
James J Hill
Between the 1860s and 1910s, the population _____?
Tripled
Settling a dispute by agreeing to accept the decision of an impartial outsider
Arbitration
A company tool to fight union demands by refusing to allow employees to enter its facilities to work
Lockout
What did the Bell Telephone Company eventually become called?
American Telephone and Telegraph Company (AT&T)
During the 1900s, roughly how many miles of railroad track was there?
200,000 miles
What two reasons caused the population to increase?
Immigrants and Large Families
An agreement in which a company agrees to hire only union members
Closed shop