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HS USH Ch 9 Sec 1&2

Vocabulary

Question	Answer
A nation's ____ is the total value of all goods and services it produces during a year.	gross national product
___ are people who risk their capital in organizing and running a business	entrepreneurs
The __ motive, or hope to make money, attracted people of high ability and ambition into business	profit
Scandals created the impression that railroad entrepreneurs were __, or people who looted an industry and gave nothing back.	robber barons
The __ Railroad was the only railroad that was not eventually forced into bankruptcy.	Great Northern
Because of a shortage of labor in California, the Central Pacific Railroad hired about 10,000 workers from	China
Credit Mobilier was a ___ company that greatly overcharged Union Pacific for the work it did, and since the same investors controlled both companies, the railroad agreed to pay the inflated bills.	construction
Railroad ___ proceeded rapidly from the end of the Civil War to 1900, with large rail lines taking over about 400 smaller railroads,and eventually seven giant systems controlling most rail traffic.	consolidation
To convince _____ to give Northern Pacific more grants after inflated costs of Credit Mobilier, Oakes Ames (also a member of ____ and stockholder) gave other members of ____ shares in the Union Pacific at a price well below market value.	Congress
The Credit Mobilier scandal was exposed during the ___ of 1872.	election
To encourage railroad construction, the federal government gave land ___ to many railroad companies, first through individual states, and after teh Railway Act of 1862 and 1864 to the railroad companies directly.	grants
The Credit Mobilier scandal provided sensational newspaper headlines and created the impression that all railroad entrepreneurs were ____ barons--people who loot an industry and give nothing back.	robber
began the railroad boom	Pacific Railway Act
changed bobbins without stopping	Northrop automatic loom
enabled longer and heavier trains	air brakes
"Let people do as they choose."	laissez-faire
set up Menlo Park	Thomas Alva Edison
practiced "insider trading"	Jay Gould
"Come here, Watson, I want you."	Alexander Graham Bell
began the first direct rail service from New York City to Chicago	Cornelius Vanderbuilt
drilled the first oil well	Edwin Drake
people who risk their capital in organizing and running a business	entrepreneurs
the total value of all goods and services produced by a country	gross national product
act that reversed years of declining tariffs	Morrill Tariff
"let do," a French phrase meaning "let people do as they choose"	laissez-faire
resource that could be turned into kerosene	petroleum
one of the most famous and successful railroad consolidators	Cornelius Vanderbuilt
regions where the same time is kept	time zones
used information he received as a railroad owner to manipulate stock prices to his benefit	Jay Gould
built the Great Northern Railroad	James J. Hill
given to the railroad companies by the government to encourage railroad construction	land grants

Created by: Miss Brown

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