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. Rich and poor are impacted when even Tom Scott faces ruin and disgrace from Texas Pacific Railroad default unless what happens?
(a) The economy improves.
(b) His friend Andrew Carnegie endorses the note.
(c) A miracle occurs.
(d) He can sell stock.

2. 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.
(a) Forty.
(b) Thirty.
(c) Ten.
(d) Twenty.

3. Carnegie hires Captain Bill Jones to raid whose staff where they worked together before its strike to run ET?
(a) Cambria heights'.
(b) Cambria font's.
(c) Cambria pines'.
(d) Cambria mill's.

4. 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.
(a) $25,000.
(b) $2,500.
(c) $250,000.
(d) $2.5 million.

5. Captain Bill Jones claims success in managing labor by doing what?
(a) Raising the crews' salaries.
(b) Keeping crews "judiciously mixed."
(c) Keeping crews "judiciously separated."
(d) Firing the instigators in the crew.

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

7. Carnegie acquires _______ of the eight failing rail mills and follows an aggressive policy of price-cutting to anticipate its direction and expand sales.
(a) Two.
(b) Three.
(c) Five.
(d) Four.

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

9. Carnegie corrects this deficiency by integrating _______________________.
(a) Sun Oil and US Oil.
(b) Keystone Bridge and Union Iron.
(c) Pullman and Woodruff.
(d) Pennsylvania Railroad with Pacific Union.

10. Frick's first acquisition is _____________, which is the most modern steel mill and keeps the Carnegie Company at the forefront.
(a) Factory Steel.
(b) Duquesne Steel.
(c) NESSteel.
(d) U.S. Steel.

11. Beginning in 1872, Carnegie focuses on the single project of his steel-rail rolling mill that is completed in _________.
(a) 1903.
(b) 1883.
(c) 1873.
(d) 1893.

12. When Carnegie decides what furnace is more effective, he orders six more to be built immediately.
(a) A reverse-cycle system.
(b) A central warm-Air furnace.
(c) A steam or hot-water system.
(d) An open-hearth.

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

14. Carnegie follows the successful path of building through a depression and lack of customers by ________________.
(a) Increasing costs and decreasing output.
(b) Driving costs down and increasing output.
(c) Increasing costs and output.
(d) Driving costs and output down.

15. The 1893 depression is caused by what?
(a) Manufacturing undercapacity, particularly in the steel industry.
(b) Manufacturing overcapacity, particularly in the oil industry.
(c) Manufacturing undercapacity, particularly in the oil industry.
(d) Manufacturing overcapacity, particularly in the steel industry.

Short Answer Questions

1. Carnegie hires the expert ____________ to put the Bessemer program in place and function as its works superintendent.

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

3. Their deal demonstrates the power of what?

4. Americans in the North have how many years of peace and prosperity as they begin to exploit American markets?

5. This approach introduces ______________ into pricing and a methodology for investment planning.

(see the answer keys)

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