by creating monopolies and establishing trusts, industrial leaders of the late 1800s\na caused the panic of…
by creating monopolies and establishing trusts, industrial leaders of the late 1800s\na caused the panic of 1893.\nb secured passage of the sixteenth amendment.\nc were able to accumulate vast amounts of wealth.\nd secured the election of william mckinley as president in 1897.
Answer
Brief Explanations:
- Option A: The Panic of 1893 was caused by factors like railroad overbuilding and bank failures, not monopolies/trusts by industrial leaders.
- Option B: The Sixteenth Amendment (income tax) was passed in 1909 - 1913, and monopolies/trusts aren't linked to its passage.
- Option C: Industrial leaders in the late 1800s (e.g., Rockefeller, Carnegie) used monopolies/trusts to eliminate competition, control prices, and thus accumulate huge wealth.
- Option D: McKinley's election was influenced by business support but not directly by monopolies/trusts creating a direct causal link for his election.
Answer:
C. were able to accumulate vast amounts of wealth.