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. Carnegie's methods in steel concentrate what?
(a) The beginnings of the American steel industry.
(b) The first American industry.
(c) The beginnings of pollution problems.
(d) The first industry in the world.

2. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?
(a) Intelligence.
(b) Confidence.
(c) Education.
(d) A sense of humor.

3. Specialized merchants control flow of product at every step, which _____________________.
(a) Increases costs and slows materials flow.
(b) Increases costs and increases materials flow.
(c) Slows costs and slows materials flow.
(d) Slows costs and increases materials flow.

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

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

6. Who rescues Merritt's Mesabi Range from bankruptcy?
(a) Carnegie.
(b) John D. Rockefeller.
(c) Thomas.
(d) Frick.

7. 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.
(a) 1899.
(b) 1889.
(c) 1879.
(d) 1909.

8. This approach introduces ______________ into pricing and a methodology for investment planning.
(a) Decreases.
(b) Rationality.
(c) Inreases.
(d) Practicality.

9. Other operating benefits like reduced inventory and less machine duplication create cost savings to enable __________________at a market-competitive rate.
(a) Reduced prices and reduced profitability.
(b) Increased prices and increased profitability.
(c) Increased prices and reduced profitability.
(d) Reduced prices and increased profitability.

10. Cost information enables cost-cutting per unit by __________________________ at the same output level.
(a) Increasing the speed of materials flow and increasing labor cost.
(b) Decreasing the speed of materials flow and decreasing labor cost.
(c) Decreasing the speed of materials flow and increasing labor cost.
(d) Increasing the speed of materials flow and decreasing labor cost.

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

12. Small firms operate iron furnaces to smelt ore into _______ iron.
(a) Bull.
(b) Pig.
(c) Elephant.
(d) Horse.

13. Phipps sees possible gains in other operations and encourages Carnegie to hire who?
(a) A full-time conservationist.
(b) A full-time physicist.
(c) A full-time biologist.
(d) A full-time chemist.

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

15. 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) "Luke."
(b) "Lucy."
(c) "Lenny."
(d) "Larry."

Short Answer Questions

1. Captain Bill Jones claims success in managing labor by doing what?

2. Carnegie corrects this deficiency by integrating _______________________.

3. The start of ET construction coincides with what?

4. They make a deal that is considered what?

5. A second dimension necessary to effect this integration is the implementation of what system?

(see the answer keys)

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