Why Did the Federal Government During the Late Nineteenth Century

question 119

Multiple Choice

Why did the federal government during the late nineteenth century tend to ignore the social consequences of industrialization?

• A) Local party bosses refused federal government assistance.
• B) Congressmen believed only the president had the constitutional authority to regulate societal issues.
• C) Americans believed that volunteer Christian organizations should take care of societal problems.
• D) Most American leaders, regardless of party, believed in the laissez-faire doctrine and did not support a large governmental role in the economy.
• E) Most leaders believed in communism's focus on individual decision making and not government directed policy.

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Definitions:

Oligopoly

A market structure characterized by a few firms dominating the market, often leading to collusive behavior and strategic planning.

Degrees of Competition

The extent to which market competition exists, characterized by the number of firms, product differentiation, and barriers to entry.

Pure Monopoly

A market structure where a single seller controls all of a product's supply and can set prices without competition.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit, leading to perfect competitive markets.