Chapter 14 Study Guide with 100% correct answers

Why was petroleum in high demand even before the invention of the automobile? Because it could be turned into kerosene. Laissez-faire relies on what to regulate prices and wages? On supply and demand. During the early days of industrialization, many members of Congress believed that tariffs were necessary to do what? To help new American industries compete with large established European factories. What did economies of scale do to costs and prices? Advantages reaped by companies when production becomes efficient. What did the government offer to the railroad companies building the transcontinental railroad? Land along its right away Because of the shortage of workers in California, the Central Pacific Railroad hired workers from where? About 10,000 workers from China. Railroad companies raised most of the money they needed to build their railroads from what? From selling the land grants that the Federal government gave to them. How could corporations achieve economies of scale? Investing in more machines and larger manufacturing facilities Which type of integration best describes the relationship between these items: Cattle-->Slaughterhouse-->Meat Packing Plants-->Ace Meat Industries Vertical Integration In the late 1800s, workers' buying power generally increased because? Prices fell faster than wages Measurements taken of Union soldiers during the Civil War led to the development of what? Protect property rights and maintain peace Supporters of laissez-faire believed the government should interfere in the economy only to do what? Ready-made clothes Which two railroads built the transcontinental railroad? Union Pacific and Central Pacific Construction of the transcontinental railroad pushed west from which city? Omaha, Nebraska What did the American Railway Association do in 1883 in order to make rail service more reliable? Divided the country into four time zones in regions where the same time was kept.