|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. Holley's pre-production estimates and Shinn's voucher system provides Carnegie's Edgar Thomson Works with accurate profitability in its ________ month of operation.
2. American capitalism and democracy conflict in the fear that economic justice requires what?
(a) Small government.
(b) An inactive government.
(c) An active interventionist role for government.
(d) No government.
3. Carnegie is praised by labor leaders and Frick is considered _____________.
(a) "A hero."
(b) "Strange and righteous."
(c) "Haughty and disdainful."
(d) "Carnegie's assistant."
4. Carnegie follows the successful path of building through a depression and lack of customers by ________________.
(a) Increasing costs and decreasing output.
(b) Driving costs and output down.
(c) Increasing costs and output.
(d) Driving costs down and increasing output.
5. 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 causes a blast furnace explosion.
(c) He is killed in a blast furnace explosion.
(d) He is injured in a blast furnace explosion.
6. The process takes longer than expected, but by 1868 production begins, and expansion is planned in what year?
7. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?
(a) They cause pollution.
(b) They are thrown away.
(c) They are used in the blast furnace.
(d) They are destroyed.
8. Carnegie leases the iron ore properties from this man. Why?
(a) To keep him out of the steel business.
(b) To make him a partner.
(c) To retire slowly from the industry.
(d) To keep him happy.
9. Carnegie feels confident enough in 1870 to do what?
(a) Sell the business.
(b) Expand the business.
(c) Buy new businesses.
(d) Make large changes in the business.
10. The 1893 depression is caused by what?
(a) Manufacturing overcapacity, particularly in the steel industry.
(b) Manufacturing undercapacity, particularly in the oil industry.
(c) Manufacturing overcapacity, particularly in the oil industry.
(d) Manufacturing undercapacity, particularly in the steel industry.
11. 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.
12. Their deal demonstrates the power of what?
13. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.
14. Carnegie contributes __________ of the partnership total $741,000 in original capital to the firm he names "Carnegie, McCandless and Company" and names the mill "Edgar Thomson Works" (ET) for the first president of Pennsylvania Railroad.
(d) $2.5 million.
15. They make a deal that is considered what?
(a) Carnegie's most surprising decisions.
(b) Carnegie's greatest achievement.
(c) A poor decision.
(d) Carnegie's least important achievement.
Short Answer Questions
1. Carnegie progresses from rolling rail to rolling structural beams and angles for bridges, skyscrapers, and ________________.
2. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.
3. Captain Bill Jones claims success in managing labor by doing what?
4. Carnegie forms an enterprise to manufacture Bessemer steel as he changes from ________________.
5. Corruption in construction of the Union Pacific Railroad is exposed with what scandal where congressmen get railroad stock to misuse public funds?
This section contains 576 words
(approx. 2 pages at 300 words per page)