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This quiz consists of 5 multiple choice and 5 short answer questions through Triumph and Tragedy.

Multiple Choice Questions

1. Success is due to the first president, ________________, and the superintendent of the western division, Tom Scott, who brings Andrew Carnegie into the modern system of train control.
(a) J. Edgar Hoover.
(b) J. Edgar Thomson.
(c) J. Edgar Johnson.
(d) J. Edgar Smith.

2. Railroad ______________ run the trains, maintain rolling stock and track, price and collect charges for service on passenger and freight trains running in both directions to meet demand.
(a) Employees.
(b) Stockholders.
(c) Managers.
(d) Executives.

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

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

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

Short Answer Questions

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

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

3. What railroad focuses capital investments that either increase revenue or reduce unit cost to justify them?

4. Small firms operate iron furnaces to smelt ore into _______ iron.

5. Tom Miller is a _________ man who forms joint ventures with Carnegie in several small investments. They form Freedom Iron Company of Lewiston Pennsylvania in 1861 that Carnegie restructures into Freedom Iron and Steel to retool for the Bessemer process in 1866.

(see the answer key)

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