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

Multiple Choice Questions

1. Carnegie feels confident enough in 1870 to do what?
(a) Buy new businesses.
(b) Expand the business.
(c) Make large changes in the business.
(d) Sell the business.

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

3. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?
(a) Organizational skills.
(b) Railroad technology skills.
(c) Railroad management skills.
(d) Sales skills.

4. 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 Johnson.
(b) J. Edgar Hoover.
(c) J. Edgar Thomson.
(d) J. Edgar Smith.

5. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.
(a) $334 million.
(b) $3.4 milion.
(c) $34,000.
(d) $3 billion.

Short Answer Questions

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

2. What firms are formed and the Gilded Age develops in New York?

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

4. Carnegie meets railroad's ____________ and initiates control of division operations when needed.

5. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?

(see the answer key)

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