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This quiz consists of 5 multiple choice and 5 short answer questions through Carnegie Challenges the World.

Multiple Choice Questions

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

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

3. Cost information enables cost-cutting per unit by __________________________ at the same output level.
(a) Increasing the speed of materials flow and increasing labor cost.
(b) Increasing the speed of materials flow and decreasing labor cost.
(c) Decreasing the speed of materials flow and increasing labor cost.
(d) Decreasing the speed of materials flow and decreasing labor cost.

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 Thomson.
(c) J. Edgar Hoover.
(d) J. Edgar Smith.

5. Scott and Thomson hold stock in Carnegie's name for what reason?
(a) Carnegie will not allow them to hold stock in anyone else's name.
(b) Carnegie is very well-known and trusted.
(c) To avoid impropriety for Carnegie's one-eighth interest.
(d) They are afraid to hold stock in their own.

Short Answer Questions

1. What characterizes America?

2. 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.

3. He forms an informal investing ____________ with Thomson and Scott.

4. The size and complexity of a railroad business requires creation of bureaucratic organization, structure, and what else?

5. Carnegie hires Captain Bill Jones to raid whose staff where they worked together before its strike to run ET?

(see the answer key)

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