|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. Carnegie feels confident enough in 1870 to do what?
(a) Make large changes in the business.
(b) Expand the business.
(c) Buy new businesses.
(d) Sell the business.
2. Holley's pre-production estimates and Shinn's voucher system provides Carnegie's Edgar Thomson Works with accurate profitability in its ________ month of operation.
3. From 1872 through ________, Carnegie builds an integrated industrial business to become the best-known manufacturer in the world, publishes three books, travels around the world, and becomes a philanthropist with the express intent to give away his fortune.
4. The start of ET construction coincides with what?
(a) The Great Depression of 1873.
(b) The Crash of 1873.
(c) The Panic of 1873.
(d) Black Friday of 1873.
5. Small firms operate iron furnaces to smelt ore into _______ iron.
6. Frick's first acquisition is _____________, which is the most modern steel mill and keeps the Carnegie Company at the forefront.
(b) U.S. Steel.
(c) Factory Steel.
(d) Duquesne Steel.
7. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?
(a) They are thrown away.
(b) They cause pollution.
(c) They are destroyed.
(d) They are used in the blast furnace.
8. When the state legislature creates a limited partnership in ____________, Carnegie, McCandless immediately restructures into the Edgar Thomson Steel Company, Limited.
9. 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) Cutting 25 percent from wages.
(c) Adding 15 percent to wages.
(d) Adding 25 percent to wages.
10. Carnegie forms an enterprise to manufacture Bessemer steel as he changes from ________________.
(a) Entrepreneur to capitalist.
(b) Socialist to capitalist.
(c) Capitalist to entrepreneur.
(d) Capitalist to socialist.
11. Carnegie hires the expert ____________ to put the Bessemer program in place and function as its works superintendent.
(a) J. Edgar Hoover.
(b) John D. Rockefeller.
(c) Alexander Holley.
(d) Tom Scott.
12. He installs a blast furnace called________ in 1872 to produce 13.361 tons initially and eventually over 100,000 tons annually by maximizing output.
13. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.
(a) Quite a few.
(d) Hundreds of.
14. Carnegie corrects this deficiency by integrating _______________________.
(a) Sun Oil and US Oil.
(b) Pennsylvania Railroad with Pacific Union.
(c) Keystone Bridge and Union Iron.
(d) Pullman and Woodruff.
15. The 1893 depression is caused by what?
(a) Manufacturing overcapacity, particularly in the steel industry.
(b) Manufacturing overcapacity, particularly in the oil industry.
(c) Manufacturing undercapacity, particularly in the steel industry.
(d) Manufacturing undercapacity, particularly in the oil industry.
Short Answer Questions
1. Frick's chairmanship of the Carnegie Company marks a difficult period in its history starting with what strike in 1892 and a four year depression from 1893.
2. Who rescues Merritt's Mesabi Range from bankruptcy?
3. Their deal demonstrates the power of what?
4. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?
5. When Carnegie decides what furnace is more effective, he orders six more to be built immediately.
This section contains 497 words
(approx. 2 pages at 300 words per page)