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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Who rescues Merritt's Mesabi Range from bankruptcy?
(a) Carnegie.
(b) Frick.
(c) Thomas.
(d) John D. Rockefeller.

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.
(a) $3.50.
(b) $0.50.
(c) $1.50.
(d) $2.50.

3. He follows a policy of putting all his eggs in the same basket and doing what?
(a) Watching it.
(b) Ignoring it.
(c) Worrying about it.
(d) Forgetting about it.

4. Carnegie's labor guidelines and Captain Bill's implementation works well until 1889 when what happens to Bill?
(a) He is accused of causing a blast furnace explosion.
(b) He is killed in a blast furnace explosion.
(c) He is injured in a blast furnace explosion.
(d) He causes a blast furnace explosion.

5. 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.

6. The industrial economy is crippled with some __________________ firms failing over six years.
(a) 5,000.
(b) 1,200.
(c) 12,000.
(d) 120.

7. Small firms operate iron furnaces to smelt ore into _______ iron.
(a) Bull.
(b) Elephant.
(c) Horse.
(d) Pig.

8. Their deal demonstrates the power of what?
(a) Size.
(b) Intelligence.
(c) Ingenuity.
(d) Strength.

9. One of the country's largest banking houses Jay Cooke's collapses, credit structures tumble and _____________ businesses fail in a year.
(a) 5,000.
(b) 1,000.
(c) 500.
(d) 50,000.

10. Along with Shinn, they put together an effective team based on Carnegie's systematic analysis of personnel to provide performance incentives that raise __________ men through ranks to share ownership.
(a) Ten.
(b) Thirty.
(c) Twenty.
(d) Forty.

11. Rich and poor are impacted when even Tom Scott faces ruin and disgrace from Texas Pacific Railroad default unless what happens?
(a) A miracle occurs.
(b) The economy improves.
(c) He can sell stock.
(d) His friend Andrew Carnegie endorses the note.

12. Beginning in 1872, Carnegie focuses on the single project of his steel-rail rolling mill that is completed in _________.
(a) 1883.
(b) 1893.
(c) 1873.
(d) 1903.

13. Carnegie is praised by labor leaders and Frick is considered _____________.
(a) "A hero."
(b) "Strange and righteous."
(c) "Haughty and disdainful."
(d) "Carnegie's assistant."

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

15. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.
(a) At the Potomac.
(b) At the Monongahela.
(c) At the Ohio River.
(d) At the Allegheny.

Short Answer Questions

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

2. Carnegie organizes a partnership with business associates and colleagues that are confident of his success to do what?

3. Holley's pre-production estimates and Shinn's voucher system provides Carnegie's Edgar Thomson Works with accurate profitability in its ________ month of operation.

4. The start of ET construction coincides with what?

5. Bank failures destroy personal savings, social safety nets are nonexistent and workers retreat to the family farm or where?

(see the answer keys)

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