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

Multiple Choice Questions

1. What firms are formed and the Gilded Age develops in New York?
(a) Technology and communication.
(b) Bank and credit unions.
(c) Restaurants and fast food chains.
(d) Retail and mercantile.

2. He installs a blast furnace called________ in 1872 to produce 13.361 tons initially and eventually over 100,000 tons annually by maximizing output.
(a) "Lucy."
(b) "Luke."
(c) "Lenny."
(d) "Larry."

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

4. When the state legislature creates a limited partnership in ____________, Carnegie, McCandless immediately restructures into the Edgar Thomson Steel Company, Limited.
(a) 1878.
(b) 1874.
(c) 1876.
(d) 1880.

5. Carnegie relies on what system implemented by Thomson and Scott at the railroad to transfer and adapt it to industry?
(a) The McMillan.
(b) The McDonald.
(c) The McCallum.
(d) The McAllister.

6. Carnegie acquires _______ of the eight failing rail mills and follows an aggressive policy of price-cutting to anticipate its direction and expand sales.
(a) Four.
(b) Two.
(c) Five.
(d) Three.

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

8. Only how many of the original nine partners remain?
(a) Five.
(b) Two.
(c) Four.
(d) Three.

9. Carnegie pressures management and Frick resigns again. Is his resignation accepted?
(a) Not at first.
(b) Yes.
(c) No.
(d) Only later.

10. Carnegie is praised by labor leaders and Frick is considered _____________.
(a) "Carnegie's assistant."
(b) "Haughty and disdainful."
(c) "A hero."
(d) "Strange and righteous."

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

12. The industrial economy is crippled with some __________________ firms failing over six years.
(a) 12,000.
(b) 120.
(c) 5,000.
(d) 1,200.

13. Carnegie hires Captain Bill Jones to raid whose staff where they worked together before its strike to run ET?
(a) Cambria heights'.
(b) Cambria pines'.
(c) Cambria mill's.
(d) Cambria font's.

14. Bank failures destroy personal savings, social safety nets are nonexistent and workers retreat to the family farm or where?
(a) Canada.
(b) The mother country.
(c) The city.
(d) The coasts.

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

Short Answer Questions

1. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?

2. Carnegie forces another _____________ partners out until only Schwab survives, while bringing in "young geniuses" who prove their merit on cost sheets.

3. Schwab cuts $500,000 in costs at Homestead by __________________ and replacing skilled labor with machines and unskilled workers.

4. Productive staff is rewarded and non-productive staff is ___________.

5. 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.

(see the answer keys)

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