USA HISTORY

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WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900

AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
In its FIRST attempt to prevent or break up monopolies, Congress passed a law which made it illegal for any company ____ or group of companies working together ____ to attempt to “restrain commerce.” This was called the ____ ?
A
The Dawes Act
B
The Sherman Antitrust Act
C
Chinese Exclusion Act
D
Pendleton Civil Service Act
Explanation: 

Detailed explanation-1: -The Sherman Anti-Trust Act passed the Senate by a vote of 51–1 on April 8, 1890, and the House by a unanimous vote of 242–0 on June 20, 1890.

Detailed explanation-2: -The Sherman Antitrust Act is a law the U.S. Congress passed to prohibit trusts, monopolies, and cartels. Its purpose was to promote economic fairness and competitiveness and to regulate interstate commerce.

Detailed explanation-3: -Federal action finally won out in 1911, splitting Standard Oil into 33 companies. The 33 seldom competed with each other. The federal decision together with the Clayton Antitrust Act of 1914 and the creation that years of the Federal Trade Commission largely de-escalated the antitrust rhetoric among progressives.

Detailed explanation-4: -The Sherman Antitrust Act This Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade. This includes agreements among competitors to fix prices, rig bids, and allocate customers, which are punishable as criminal felonies.

There is 1 question to complete.
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