C3B quiz

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gross national product

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36 Terms

1

gross national product

the total value of all goods and services produced by a country eight times greater that it had been when the civil war ended

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2

entrepreneurs

people who risk their capital in organizing and running a business in order to manufacture and transport

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3

laissez-faire

french idea, "let people do as they choose." supporters believe the government shouldn't interfere

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4

distribution

operating vast complexes of factories, warehouses, offices, and distribution facilities

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5

corporation

an organization owned by many people but treated by law as though it was a single person

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6

vertical integration

Carnegie began it with the steel industry, owns all of the different businesses on which it depends for operation

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7

horizontal integration

successful business leaders also pushed forth, combining many firms engaged in the same type of business into 1 large corporation

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8

monopoly

when a single company achieves control of an entire market. opponents feared these because they believed a company with one could charge whatever it wanted for its products.

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9

concept

it allows 1 person to manage another person's property

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10

marxism

the ideas of Karl Marx, the theory of socialism in which a class struggle would exist until the workers were finally victorious creating a classless society

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11

industrial union

owners of large corporations particularly opposed. it united all craft workers and common laborers all in a particular industry

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12

closed shop

the AFL pushed for; companies could hire only union members. membership was a condition for being hired and continued employment

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13

Alexander Graham Bell

a young Scottish-American inventor who suggested the idea of a telephone

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14

Thomas Alva Edison

the most famous inventor of the late 1800s, worked tirelessly to invent new products to improve devices

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15

pacific railway act

started in 1862 signed by president Abraham Lincoln; it provided for the construction of a transcontinental railroad by 2 corporations

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16

Andrew Carnegie

a Scottish immigrant who rose from bobbin boy in a textile factory to the owner of a steel company in Pittsburgh. He began vertical integration of the steel industry

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17

American Federation of Labor

Samuel Gompers was the leader, their goals were to convince companies to recognize unions and agree to collective bargaining.

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18

Samuel Gompers

the AFL's first leader, his approach to labor relations helped unions become accepted in American society

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19

volume

the amount of space that a substance or object occupies or encloses within a container. lower rates because of the volume of goods shipped

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20

populism

a movement to increase farmers' political power and to work for legislation in their interest

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21

inflation

a rapid increase in the money supply without an accompanying increase in goods for sale, a decline in the value of money

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22

deflation

as the economy expanded, there was an increase in the value of money and a decrease in prices. money increased in value and prices began to fall.

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23

graduated income tax

one that taxed higher earnings more heavily. the platform denounced the government's refusal to the coinage of silver.

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24

poll tax

a tax of a fixed amount per person that had to be paid before the person could vote. requiring all citizens registering to vote pay one

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25

prospective

required those voters to be able to read or understand state constitution. expected or expecting to be something particular in the future

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26

grandfather clause

some states gave whites a special break with it, allowing any man to vote if he had an ancestor who appeared on voting rolls

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27

segregation

in the south, a separation of the races. laws enforced and perpetuated discrimination.

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28

Jim Crow laws

the statutes enforcing segregation

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29

stalwarts

what newspapers called local bosses of Republican political machines

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30

Pendleton Act

1885 set by congress, set up civil service with appointments of candidates based on examinations

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31

Interstate Commerce Act

public pressure forced congress to enact creating the interstate commerce commission. the first federal law designed to regulate interstate commerce

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32

grange

in increasing numbers, they joined the first national farm organization. the Patrons of Husbandry tried to create cooperatives

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33

people's party

members of the Kansas Alliance formed AKA populists. they nominated candidates to run for congress and state legislature

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34

William Jennings Bryan

a strong supporter of silver to back the dollar

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35

Ida B. Wells

fiery young African American woman from Tennessee who launched fearless crusade against lynching in 1892

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36

W.E.B. DuBois

leader of a new generation of African American activists born after the Civil War

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