|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. Carnegie pressures management and Frick resigns again. Is his resignation accepted?
(a) Not at first.
(c) Only later.
2. In __________, Carnegie has the most modern operation.
3. 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.
4. The 1878 Thomas process of lime-lining the heating vessel to eliminate phosphorous is acquired by Carnegie and sold to who two years later?
(a) The Mellon Association.
(b) The Bessemer Association.
(c) The John D. Rockefeller Association.
(d) The Roosevelt Association.
5. Cost information enables cost-cutting per unit by __________________________ at the same output level.
(a) Decreasing the speed of materials flow and decreasing labor cost.
(b) Increasing the speed of materials flow and increasing labor cost.
(c) Decreasing the speed of materials flow and increasing labor cost.
(d) Increasing the speed of materials flow and decreasing labor cost.
6. Americans in the North have how many years of peace and prosperity as they begin to exploit American markets?
7. This approach introduces ______________ into pricing and a methodology for investment planning.
8. Productive staff is rewarded and non-productive staff is ___________.
9. Carnegie corrects this deficiency by integrating _______________________.
(a) Pennsylvania Railroad with Pacific Union.
(b) Pullman and Woodruff.
(c) Sun Oil and US Oil.
(d) Keystone Bridge and Union Iron.
10. He installs a blast furnace called________ in 1872 to produce 13.361 tons initially and eventually over 100,000 tons annually by maximizing output.
11. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.
12. The partners want Frick to exercise power without Carnegie. Why?
(a) He is more trustworthy than Carnegie.
(b) He is more likely to keep wage costs down.
(c) He has good ideas for growth in the company.
(d) He is easier to manipulate than Carnegie.
13. Their deal demonstrates the power of what?
14. When the state legislature creates a limited partnership in ____________, Carnegie, McCandless immediately restructures into the Edgar Thomson Steel Company, Limited.
15. 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.
Short Answer Questions
1. American capitalism and democracy conflict in the fear that economic justice requires what?
2. Carnegie relies on what system implemented by Thomson and Scott at the railroad to transfer and adapt it to industry?
3. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.
4. Holley's pre-production estimates and Shinn's voucher system provides Carnegie's Edgar Thomson Works with accurate profitability in its ________ month of operation.
5. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?
This section contains 492 words
(approx. 2 pages at 300 words per page)