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

2. William Coleman also shares Carnegie's interest and enthusiasm in what?
(a) Technology.
(b) Steel.
(c) Oil.
(d) Retail.

3. Phipps takes Carnegie's cost-cutting seriously by having who analyze flue and puddle cinders?
(a) A biologist.
(b) A physicist.
(c) A chemist.
(d) A conservationist.

4. 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.
(a) $400,000.
(b) $4,000.
(c) $40,000.
(d) $4 million.

5. The start of ET construction coincides with what?
(a) The Crash of 1873.
(b) The Great Depression of 1873.
(c) Black Friday of 1873.
(d) The Panic of 1873.

Short Answer Questions

1. Andrew needs a strong leader to manage growth after what happens to his brother Tom?

2. Frick's chairmanship of the Carnegie Company marks a difficult period in its history starting with what strike in 1892 and a four year depression from 1893.

3. Cost information enables cost-cutting per unit by __________________________ at the same output level.

4. Carnegie pressures management and Frick resigns again. Is his resignation accepted?

5. Carnegie's pace of ___________ replacement needs continuous reinvestment of profits to the exclusion of significant dividend payments.

Short Essay Questions

1. Why does Andrew not help Tom Scott? What are the effects of this decision?

2. Describe Carnegie's partners at this time.

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

4. Describe the seven years of peace and prosperity in the North.

5. How does Carnegie benefit from cutting costs?

6. Describe Captain Bill Jones' management of labor.

7. Describe the firm and the new mill.

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

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

10. Why does Carnegie hire Alexander Holley?

(see the answer keys)

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