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Gilded Age
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Gilded Age Vocab
Terms in this set (13)
Bessemer Process
A process for making steel more efficiently, patented in 1856.
Transcontinental Railroad
Railway extending from coast to coast
Laissez-faire
Idea that government should play as small a role as possible in economic affairs.
Interstate Commerce Act
1887 law passed to regulate railroad and other interstate businesses
Vertical Integration
Practice where a single entity controls the entire process of a product, from the raw materials to distribution
Horizontal Integration
Type of monopoly where a company buys out all of its competition. Ex. Rockefeller
Social Darwinism
The belief that only the fittest survive in human political and economic struggle.
Sherman Antitrust Act
1890 law banning any trust that restrained interstate trade or commerce
American Federation of Labor (AFL)
a national organization of labor unions founded in 1886 by Samuel Gompers
Industrial Workers of the World
a labor organization for unskilled workers, formed by a group of radical unionists and socialists in 1905
Ellis Island
Immigration processing center that open in New York Harbor in 1892
Angel Island
Inspection station for immigrants arriving on the West Coast
Gilded Age
1870s - 1900; time period looked good on the outside, despite the corrupt politics & growing gap between the rich & poor
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At the beginning of the 2014 school year, Jen Lassiter decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: $$ \begin{array}{lrr} \text{Cash balance, September 1 (from a summer job)}&\$\hspace{5pt}5,970\\ \text{Purchase season football tickets in September}&{150}\\ \text{Additional entertainment for each month}&{300}\\ \text{Pay fall semester tuition in September}&{4,500}\\ \text{Pay rent at the beginning of each month}&{300}\\ \text{Pay for food each month}&{180}\\ \text{Pay apartment deposit on September 2 (to be returned December 15)}&{500}\\ \text{Part-time job earnings each month (net of taxes)}&{1,450}\\ \end{array} $$ c. What are the budget implications for Jen Lassiter?