Question 2

2 pts

Congress passed the Interstate Commerce Act in 1887 to regulate railroads.

Group of answer choices

True

False

Question 3

2 pts

Dominance theory is the view that business power is exercised in a society in which other institutions also have great power, and its power is adequately counterbalanced and constrained by the power wielded by these other institutions.

Group of answer choices

True

False

Question 4

2 pts

Of the three years 1929, 1947, and 1996, the percentage of U.S. corporate wealth controlled by the 200 largest U.S. non-financial corporations was the highest in

Group of answer choices

1947.

1996.

1929.

Question 5

2 pts

According to your text, among the social values that can serve as boundaries on managerial power are norms of

Group of answer choices

justice

piety

truth

duty

All of these.

Question 6

2 pts

In Colonial days, Americans adopted the then-revolutionary doctrine of ________________, which held that all persons were created equal and entitled to the same opportunities and protections.

Group of answer choices

stare decisis

habeus corpus

natural rights

malum prohibitum

Question 7

2 pts

According to David Rothkopf, the 6,000 members of the transnational power elite are most likely to have earned their degrees from

Group of answer choices

None of these.

Harvard, Stanford, or the University of Chicago.

U.C. Berkeley, Cambridge, or the London School of Economics.

Princeton, Yale, or Oxford.

Question 8

2 pts

In 2008, the output of the 100 largest multinational firms was approximately ____ of world GDP.

Group of answer choices

9%

33%

4%

26%

13%

Question 9

2 pts

Between 1860 and 1890, the capital invested in manufacturing plants in the United States increased by

Group of answer choices

200%, from $1 billion to $3 billion.

None of these.

650 percent, from $1 billion to $6.5 billion.

100%, from $1 billion to $2 billion.

400 percent, from $1 billion to $4 billion.

Question 10

2 pts

Between 1895 and 1904, an unprecedented merger wave produced mega-firms in roughly 300 industries. A 1904 study of the 92 largest firms in America found that

Group of answer choices

78 of the 92 (85% of the firms in the study) controlled 50% of their market.

26 of the 92 (28% of the firms in the study) controlled 80% of their market.

All of these.

57 of the 92 (62% of the firms in the study) controlled 60% of their market.

Question 11

2 pts

In total, federal and state governments in the United States gave the railroads 164 million acres of land, an area equal to the size of California and Nevada combined.

Group of answer choices

True

False

Question 12

2 pts

In the 1850s in the United States, only a handful of manufacturing facilities cost more than $1 million to build. By comparison, railroad lines were frightfully and unprecedentedly expensive to build. According to your text, many of the 30 U.S. railroad companies that completed track systems during that decade needed ___________________ in up-front capital to build their track system, and the smallest at least $2 million.

Group of answer choices

$5 - $9 million

$1 - $5 billion

$3 - $5 million

$10 - $35 million

$9 - $19 million

Question 13

2 pts

According to your text, the advent of the railroads in the 1820s shortened the travel time from New York to Chicago from three weeks to

Group of answer choices

one week.

three days.

two weeks.

one day.

None of these.

Question 14

2 pts

In __________________, no entity or interest has overriding power.

Group of answer choices

an oligarchy

a plutocracy

a pluralistic society

a totalitarian society

Question 15

2 pts

Pluralist theory is the view that business is preeminent in American society, primarily because of its control of wealth, and that its power is both excessive and inadequately checked.

Group of answer choices

True

False

Question 16

2 pts

James B. Duke's American Tobacco Company was one of the firms whose stock price was included in Charles Dow's original index of stock market performance in 1896.

Group of answer choices

True

False

Question 17

2 pts

In 1904, the United States Steel Corporation became the first company in human history with more than _____________ in assets.

Group of answer choices

$1 million

$1 trillion

$1 billion

None of these.

Question 18

2 pts

C. Wright Mills was a sociologist who believed strongly that American society was, in his day, a pluralistic society.

Group of answer choices

True

False

Question 19

2 pts

Railroads pioneered professional management teams, division structures, and modern cost accounting - all innovations adopted later by other industries.

Group of answer choices

True

False

Question 20

2 pts

During the 1850s in the United States, railroads sold bonds and offered stocks to raise capital so they could build their track systems, and a new investment banking industry was created. New York was the center of most of this financial activity.

Group of answer choices

True

False

Question 21

2 pts

In early America, localities set their own time according to the sun's overhead transit, but this resulted in a patchwork of time zones that made railroad scheduling difficult; so in 1882, the General Time Convention met and standardized the time of day.

Group of answer choices

True

False