Andrew Carnegie and the Rise of Big Business Test | Final Test - Medium

Harold C. Livesay
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Andrew needs a strong leader to manage growth after what happens to his brother Tom?
(a) He becomes ill.
(b) He retires.
(c) He moves.
(d) He dies.

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

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

4. A second dimension necessary to effect this integration is the implementation of what system?
(a) Welfare.
(b) Democratic.
(c) Accountability.
(d) Benefits.

5. Carnegie hires the expert ____________ to put the Bessemer program in place and function as its works superintendent.
(a) Tom Scott.
(b) John D. Rockefeller.
(c) J. Edgar Hoover.
(d) Alexander Holley.

Short Answer Questions

1. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?

2. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.

3. One of the country's largest banking houses Jay Cooke's collapses, credit structures tumble and _____________ businesses fail in a year.

4. Carnegie forces another _____________ partners out until only Schwab survives, while bringing in "young geniuses" who prove their merit on cost sheets.

5. Carnegie sells _____________ bonds to Junius Morgan in London to complete construction of the Edgar Thomson Works in 1875, and saves 25 percent in costs from the depression.

Short Essay Questions

1. Describe Captain Bill Jones' management of labor.

2. How is Rockefeller involved in Carnegie's business?

3. How does Carnegie benefit from cutting costs?

4. Why does Carnegie hire Alexander Holley?

5. Describe Carnegie's replacement of equipment.

6. What is a second dimension necessary to effect this integration?

7. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?

8. Describe the economic collapse. How are Carnegie and others affected by it?

9. Describe Carnegie's partners at this time.

10. What causes the 1893 depression? What does Carnegie do at this time?

(see the answer keys)

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