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. In __________, Carnegie has the most modern operation.
(a) 1880.
(b) 1878.
(c) 1875.
(d) 1879.

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

3. 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 McCallum.
(c) The McDonald.
(d) The McAllister.

4. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?
(a) Mostly.
(b) Partially.
(c) No.
(d) Yes.

5. The start of ET construction coincides with what?
(a) The Great Depression of 1873.
(b) The Panic of 1873.
(c) The Crash of 1873.
(d) Black Friday of 1873.

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

7. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.
(a) Twenty-five.
(b) Twenty.
(c) Forty.
(d) Thirty.

8. 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.
(a) $2.
(b) $4.
(c) $1.
(d) $3.

9. American capitalism and democracy conflict in the fear that economic justice requires what?
(a) An active interventionist role for government.
(b) Small government.
(c) An inactive government.
(d) No government.

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

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

12. Carnegie tries to use public relations, legislative action and threatens who to drive shipping costs down?
(a) John D. Rockefeller.
(b) The unions.
(c) A competitor railroad.
(d) A competitor in the steel industry.

13. The process takes longer than expected, but by 1868 production begins, and expansion is planned in what year?
(a) 1882.
(b) 1872.
(c) 1862.
(d) 1892.

14. By 1892, Carnegie is in ______________ and leaves labor issues to Frick.
(a) England.
(b) Ireland.
(c) Scotland.
(d) Wales.

15. 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 Potomac.
(b) At the Monongahela.
(c) At the Ohio River.
(d) At the Allegheny.

Short Answer Questions

1. Carnegie follows the successful path of building through a depression and lack of customers by ________________.

2. The industrial economy is crippled with some __________________ firms failing over six years.

3. Carnegie forms an enterprise to manufacture Bessemer steel as he changes from ________________.

4. 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.

5. Carnegie is praised by labor leaders and Frick is considered _____________.

(see the answer keys)

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