Monopolies and Trusts in American Industry Quiz

Test your knowledge on monopolies, antitrust acts, and key figures in American industrial history. Learn about monopolistic practices and their regulation.

#1

Which act was passed by the U.S. Congress to prohibit certain anticompetitive practices?

Sherman Antitrust Act
Clayton Antitrust Act
Federal Trade Commission Act
Sherman Act of 1890
#2

Which of the following is an example of a monopoly in the late 19th century?

Standard Oil Company
Ford Motor Company
General Electric
AT&T
#3

What is the term used to describe a situation where a single company dominates an entire industry?

Oligopoly
Monopsony
Monopoly
Cartel
#4

Which industry was primarily targeted by the Clayton Antitrust Act?

Oil
Railroads
Telecommunications
Agriculture
#5

Which company was ordered to be broken up into smaller entities by a landmark antitrust case in 1911?

AT&T
General Electric
United States Steel Corporation
Standard Oil Company
#6

What strategy did John D. Rockefeller use to build his monopoly in the oil industry?

Vertical integration
Horizontal integration
Diversification
Market segmentation
#7

Which Supreme Court case declared Standard Oil to be in violation of the Sherman Antitrust Act?

United States v. U.S. Steel Corp.
Northern Securities Co. v. United States
Standard Oil Co. of New Jersey v. United States
United States v. E. C. Knight Co.
#8

What was the main purpose of the Federal Trade Commission Act?

To regulate labor practices
To protect consumers from unfair business practices
To regulate the stock market
To establish a central bank
#9

Who wrote the influential book 'The Theory of the Leisure Class', critiquing monopolistic behavior?

John Maynard Keynes
John Kenneth Galbraith
Thorstein Veblen
Adam Smith
#10

Which president signed the Sherman Antitrust Act into law?

Theodore Roosevelt
Grover Cleveland
William McKinley
Benjamin Harrison
#11

Who was the U.S. President known for his 'trust-busting' efforts against monopolies?

Theodore Roosevelt
Woodrow Wilson
William Howard Taft
Grover Cleveland
#12

Which act was passed to prevent unfair methods of competition and deceptive acts in commerce?

Federal Trade Commission Act
Clayton Antitrust Act
Sherman Antitrust Act
Robinson-Patman Act
#13

Who was the leading proponent of the 'trust' system in American industry during the late 19th century?

John D. Rockefeller
Andrew Carnegie
J.P. Morgan
Cornelius Vanderbilt
#14

Who was the industrialist known as the 'Copper King' and was involved in antitrust litigation?

Andrew Carnegie
John D. Rockefeller
Jay Gould
Marcus Daly
#15

Which company did the U.S. government attempt to break up in 1984, citing antitrust concerns?

Microsoft
Apple
IBM
AT&T

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