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

Multiple Choice Questions

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

2. The 1893 depression is caused by what?
(a) Manufacturing overcapacity, particularly in the steel industry.
(b) Manufacturing undercapacity, particularly in the oil industry.
(c) Manufacturing overcapacity, particularly in the oil industry.
(d) Manufacturing undercapacity, particularly in the steel industry.

3. 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.

4. What problems does this steel company have?
(a) Management and organization problems.
(b) Labor and capital problems.
(c) Financial and policy problems.
(d) Supply and labor problems.

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

6. 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) First.
(c) Fourth.
(d) Second.

7. Carnegie acquires _______ of the eight failing rail mills and follows an aggressive policy of price-cutting to anticipate its direction and expand sales.
(a) Two.
(b) Five.
(c) Four.
(d) Three.

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

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

10. Productive staff is rewarded and non-productive staff is ___________.
(a) Abused.
(b) Punished.
(c) Ignored.
(d) Eliminated.

11. 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.
(a) $25,000.
(b) $250,000.
(c) $2,500.
(d) $2.5 million.

12. Carnegie corrects this deficiency by integrating _______________________.
(a) Sun Oil and US Oil.
(b) Pullman and Woodruff.
(c) Pennsylvania Railroad with Pacific Union.
(d) Keystone Bridge and Union Iron.

13. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.
(a) Twenty-five.
(b) Twenty.
(c) Forty.
(d) Thirty.

14. Carnegie's methods in steel concentrate what?
(a) The first American industry.
(b) The first industry in the world.
(c) The beginnings of the American steel industry.
(d) The beginnings of pollution problems.

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 Allegheny.
(b) At the Potomac.
(c) At the Ohio River.
(d) At the Monongahela.

Short Answer Questions

1. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?

2. Carnegie is praised by labor leaders and Frick is considered _____________.

3. William Coleman also shares Carnegie's interest and enthusiasm in what?

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

5. At thirty, Frick is a millionaire with _______ thousand coke ovens and three thousand acres of land.

(see the answer keys)

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