|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. Specialized merchants control flow of product at every step, which _____________________.
(a) Slows costs and increases materials flow.
(b) Increases costs and increases materials flow.
(c) Slows costs and slows materials flow.
(d) Increases costs and slows materials flow.
2. Carnegie hires Captain Bill Jones to raid whose staff where they worked together before its strike to run ET?
(a) Cambria font's.
(b) Cambria mill's.
(c) Cambria pines'.
(d) Cambria heights'.
3. Carnegie tries to use public relations, legislative action and threatens who to drive shipping costs down?
(a) The unions.
(b) A competitor in the steel industry.
(c) John D. Rockefeller.
(d) A competitor railroad.
4. Carnegie forces another _____________ partners out until only Schwab survives, while bringing in "young geniuses" who prove their merit on cost sheets.
5. He follows a policy of putting all his eggs in the same basket and doing what?
(a) Forgetting about it.
(b) Worrying about it.
(c) Watching it.
(d) Ignoring it.
6. Carnegie's labor guidelines and Captain Bill's implementation works well until 1889 when what happens to Bill?
(a) He is accused of causing a blast furnace explosion.
(b) He is injured in a blast furnace explosion.
(c) He is killed in a blast furnace explosion.
(d) He causes a blast furnace explosion.
7. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.
(a) At the Monongahela.
(b) At the Ohio River.
(c) At the Allegheny.
(d) At the Potomac.
8. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.
9. Other operating benefits like reduced inventory and less machine duplication create cost savings to enable __________________at a market-competitive rate.
(a) Increased prices and increased profitability.
(b) Increased prices and reduced profitability.
(c) Reduced prices and reduced profitability.
(d) Reduced prices and increased profitability.
10. William Coleman also shares Carnegie's interest and enthusiasm in what?
11. Bank failures destroy personal savings, social safety nets are nonexistent and workers retreat to the family farm or where?
(a) The coasts.
(c) The mother country.
(d) The city.
12. After this steel company's acquisition for _____ million bonds, Frick restructures all the related companies with Carnegie Steel Company, Limited taking over assets of Carnegie Brothers and Carnegie Phipps with a $25 million capital base, distributing to Carnegie 55 percent, Frick and Phipps both 11 percent each, 1 percent each to nineteen partners and 4 percent reserve for key staff.
13. The 1893 depression is caused by what?
(a) Manufacturing undercapacity, particularly in the steel industry.
(b) Manufacturing overcapacity, particularly in the steel industry.
(c) Manufacturing overcapacity, particularly in the oil industry.
(d) Manufacturing undercapacity, particularly in the oil industry.
14. Small firms operate iron furnaces to smelt ore into _______ iron.
15. American capitalism and democracy conflict in the fear that economic justice requires what?
(a) No government.
(b) Small government.
(c) An active interventionist role for government.
(d) An inactive government.
Short Answer Questions
1. Schwab cuts $500,000 in costs at Homestead by __________________ and replacing skilled labor with machines and unskilled workers.
2. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?
3. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?
4. 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.
5. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.
This section contains 601 words
(approx. 3 pages at 300 words per page)