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14 May 2016, 03:03
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Transportation developments have greatly influenced the pace and course of business growth in America. The early turnpike and the canal systems each broadened the market area by lowering costs and speeding distribution. But the influence of railroads dwarfed all of these previous developments. Railroads pioneered many aspects of business administration and enhanced some land values enormously. They also had an important impact on the growth of certain cities. Atlanta, for example, was transformed from a spot in the wilderness to a thriving metropolis as a result of the construction of the Western and Atlantic Railroad.
Railroads also provided a large outlet for savings. Their capital requirements were so great that they provided the first big opening for the investment banker who by the end of the 19th century was in control of many railroads. Railroads, too, because of the stress of competition, both in construction and operation, were the first big firms to experiment with new forms of business organization such as pools and consolidation. It followed because railroads were so vital to the nation and because their performance was tied in with the business cycle that the highways which came later were the first form of business to have their operations regulated in large degree by the government.
Finally, railroads were responsible for a great many jobs, at one time more than 2,000,000 workers. Railroads were easily the nation's largest employers during the post-Civil War, pre-World War I period. In addition they were responsible, indirectly, for tens of thousand of other jobs in the coal, iron, steel, and engineering industries - in such big enterprises, for example, as the Pullman Palace Car Company and the Westinghouse Air Brake Company. The Pullman Company, in 1909, was the eighth largest firm in the nation in terms of assets, and practically all of its output went to American railroads. Railroads, actually, were to the period 1850-1915 what the auto industry is to today in terms of being the pacesetter or bellwether of the economy. The biggest difference is that no one railroad ever dominated the rail industry as Ford and GM once dominated the auto industry.
Q1 Which of the following can be logically inferred from the passage?
A) Early turnpike and canal systems were not largely regulated by the U.S. government
B) Current automakers directly employ more workers than did the railroad industry
C) The Pullman Car Company had more assets than the Westinghouse Brake Company
D) Railroads dramatically increased the land values in Atlanta
E) Highways are more regulated today than railroads.
Railroads also provided a large outlet for savings. Their capital requirements were so great that they provided the first big opening for the investment banker who by the end of the 19th century was in control of many railroads. Railroads, too, because of the stress of competition, both in construction and operation, were the first big firms to experiment with new forms of business organization such as pools and consolidation. It followed because railroads were so vital to the nation and because their performance was tied in with the business cycle that the highways which came later were the first form of business to have their operations regulated in large degree by the government.
Finally, railroads were responsible for a great many jobs, at one time more than 2,000,000 workers. Railroads were easily the nation's largest employers during the post-Civil War, pre-World War I period. In addition they were responsible, indirectly, for tens of thousand of other jobs in the coal, iron, steel, and engineering industries - in such big enterprises, for example, as the Pullman Palace Car Company and the Westinghouse Air Brake Company. The Pullman Company, in 1909, was the eighth largest firm in the nation in terms of assets, and practically all of its output went to American railroads. Railroads, actually, were to the period 1850-1915 what the auto industry is to today in terms of being the pacesetter or bellwether of the economy. The biggest difference is that no one railroad ever dominated the rail industry as Ford and GM once dominated the auto industry.
Q1 Which of the following can be logically inferred from the passage?
A) Early turnpike and canal systems were not largely regulated by the U.S. government
B) Current automakers directly employ more workers than did the railroad industry
C) The Pullman Car Company had more assets than the Westinghouse Brake Company
D) Railroads dramatically increased the land values in Atlanta
E) Highways are more regulated today than railroads.
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14 May 2016, 03:04
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OA- A
OE-
Explanation: In the first part of the passage you learn that early turnpike and canal systems came before the railroads. Then in the second paragraph you learn that “highways which came later (than railroads)were the FIRST form of business to have their operations regulated in large degree by the government”. These two things together conclusively prove (A): Early turnpike and canal systems were not largely regulated by the U.S. government. (B), (C), and (E) contain comparisons for which there is no basis in the passage: you know nothing about current automakers or current highways and you nothing about the assets of the Westinghouse company. (D) is tricky but it is out of scope. In the passage you do learn that the railroads had an effect on the growth of cities and Atlanta is listed as an example of that. While you might guess that land values went up there, you do not know for sure and you certainly do not know to what degree (dramatically???). Answer is (A).
OE-
Explanation: In the first part of the passage you learn that early turnpike and canal systems came before the railroads. Then in the second paragraph you learn that “highways which came later (than railroads)were the FIRST form of business to have their operations regulated in large degree by the government”. These two things together conclusively prove (A): Early turnpike and canal systems were not largely regulated by the U.S. government. (B), (C), and (E) contain comparisons for which there is no basis in the passage: you know nothing about current automakers or current highways and you nothing about the assets of the Westinghouse company. (D) is tricky but it is out of scope. In the passage you do learn that the railroads had an effect on the growth of cities and Atlanta is listed as an example of that. While you might guess that land values went up there, you do not know for sure and you certainly do not know to what degree (dramatically???). Answer is (A).
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Reading Comprehension (RC) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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