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

Multiple Choice Questions

1. Schwab cuts $500,000 in costs at Homestead by __________________ and replacing skilled labor with machines and unskilled workers.
(a) Cutting 25 percent from wages.
(b) Adding 25 percent to wages.
(c) Adding 15 percent to wages.
(d) Cutting 15 percent from wages.

2. When Carnegie decides what furnace is more effective, he orders six more to be built immediately.
(a) An open-hearth.
(b) A reverse-cycle system.
(c) A central warm-Air furnace.
(d) A steam or hot-water system.

3. He installs a blast furnace called________ in 1872 to produce 13.361 tons initially and eventually over 100,000 tons annually by maximizing output.
(a) "Luke."
(b) "Lucy."
(c) "Lenny."
(d) "Larry."

4. Holley's pre-production estimates and Shinn's voucher system provides Carnegie's Edgar Thomson Works with accurate profitability in its ________ month of operation.
(a) Third.
(b) Fourth.
(c) First.
(d) Second.

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

6. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?
(a) They are used in the blast furnace.
(b) They are thrown away.
(c) They cause pollution.
(d) They are destroyed.

7. Andrew needs a strong leader to manage growth after what happens to his brother Tom?
(a) He retires.
(b) He becomes ill.
(c) He dies.
(d) He moves.

8. From 1872 through ________, Carnegie builds an integrated industrial business to become the best-known manufacturer in the world, publishes three books, travels around the world, and becomes a philanthropist with the express intent to give away his fortune.
(a) 1879.
(b) 1899.
(c) 1889.
(d) 1909.

9. Carnegie progresses from rolling rail to rolling structural beams and angles for bridges, skyscrapers, and ________________.
(a) Homes.
(b) Businesses.
(c) Apartments.
(d) Elevated railroads.

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

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

12. Carnegie eliminates the costly fire insurance on his wooden buildings by replacing them with what?
(a) Steel structures.
(b) Copper structures.
(c) Iron structures.
(d) Bronze structurse.

13. 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.
(a) Automobile.
(b) Industrial.
(c) Railroad.
(d) Technology.

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

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

Short Answer Questions

1. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.

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

3. Carnegie contributes __________ of the partnership total $741,000 in original capital to the firm he names "Carnegie, McCandless and Company" and names the mill "Edgar Thomson Works" (ET) for the first president of Pennsylvania Railroad.

4. What problems does this steel company have?

5. Specialized merchants control flow of product at every step, which _____________________.

(see the answer keys)

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