Andrew Carnegie and the Rise of Big Business Test | Final Test - Easy

Harold C. Livesay
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. They make a deal that is considered what?
(a) A poor decision.
(b) Carnegie's least important achievement.
(c) Carnegie's greatest achievement.
(d) Carnegie's most surprising decisions.

2. Along with Shinn, they put together an effective team based on Carnegie's systematic analysis of personnel to provide performance incentives that raise __________ men through ranks to share ownership.
(a) Twenty.
(b) Thirty.
(c) Forty.
(d) Ten.

3. When Carnegie decides what furnace is more effective, he orders six more to be built immediately.
(a) A reverse-cycle system.
(b) A central warm-Air furnace.
(c) An open-hearth.
(d) A steam or hot-water system.

4. Captain Bill Jones claims success in managing labor by doing what?
(a) Firing the instigators in the crew.
(b) Keeping crews "judiciously separated."
(c) Keeping crews "judiciously mixed."
(d) Raising the crews' salaries.

5. Holley's pre-production estimates and Shinn's voucher system provides Carnegie's Edgar Thomson Works with accurate profitability in its ________ month of operation.
(a) Second.
(b) Fourth.
(c) Third.
(d) First.

6. The 1893 depression is caused by what?
(a) Manufacturing undercapacity, particularly in the oil industry.
(b) Manufacturing undercapacity, particularly in the steel industry.
(c) Manufacturing overcapacity, particularly in the oil industry.
(d) Manufacturing overcapacity, particularly in the steel industry.

7. The partners want Frick to exercise power without Carnegie. Why?
(a) He has good ideas for growth in the company.
(b) He is more trustworthy than Carnegie.
(c) He is easier to manipulate than Carnegie.
(d) He is more likely to keep wage costs down.

8. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?
(a) They are destroyed.
(b) They cause pollution.
(c) They are used in the blast furnace.
(d) They are thrown away.

9. At the age of ___________ Carnegie finds a wife for his home, a business successor and considers retirement.
(a) Sixty.
(b) Forty.
(c) Fifty.
(d) Fifty-four.

10. Schwab cuts $500,000 in costs at Homestead by __________________ and replacing skilled labor with machines and unskilled workers.
(a) Cutting 15 percent from wages.
(b) Adding 15 percent to wages.
(c) Cutting 25 percent from wages.
(d) Adding 25 percent to wages.

11. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?
(a) Management.
(b) Labor.
(c) Financial.
(d) Organizational.

12. Carnegie corrects this deficiency by integrating _______________________.
(a) Keystone Bridge and Union Iron.
(b) Pennsylvania Railroad with Pacific Union.
(c) Sun Oil and US Oil.
(d) Pullman and Woodruff.

13. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.
(a) Vertical.
(b) Circular.
(c) Horizontal.
(d) Repetitive.

14. Carnegie feels confident enough in 1870 to do what?
(a) Expand the business.
(b) Buy new businesses.
(c) Make large changes in the business.
(d) Sell the business.

15. He follows a policy of putting all his eggs in the same basket and doing what?
(a) Watching it.
(b) Worrying about it.
(c) Ignoring it.
(d) Forgetting about it.

Short Answer Questions

1. When the state legislature creates a limited partnership in ____________, Carnegie, McCandless immediately restructures into the Edgar Thomson Steel Company, Limited.

2. What problems does this steel company have?

3. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?

4. Other operating benefits like reduced inventory and less machine duplication create cost savings to enable __________________at a market-competitive rate.

5. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.

(see the answer keys)

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