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

Multiple Choice Questions

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

2. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?
(a) A sense of humor.
(b) Education.
(c) Confidence.
(d) Intelligence.

3. The process takes longer than expected, but by 1868 production begins, and expansion is planned in what year?
(a) 1892.
(b) 1862.
(c) 1872.
(d) 1882.

4. 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) Thirty.
(b) Twenty.
(c) Ten.
(d) Forty.

5. Carnegie sells _____________ bonds to Junius Morgan in London to complete construction of the Edgar Thomson Works in 1875, and saves 25 percent in costs from the depression.
(a) $40,000.
(b) $400,000.
(c) $4,000.
(d) $4 million.

6. Only how many of the original nine partners remain?
(a) Five.
(b) Two.
(c) Three.
(d) Four.

7. 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) First.
(b) Fourth.
(c) Second.
(d) Third.

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

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

10. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.
(a) Circular.
(b) Vertical.
(c) Horizontal.
(d) Repetitive.

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

12. The 1878 Thomas process of lime-lining the heating vessel to eliminate phosphorous is acquired by Carnegie and sold to who two years later?
(a) The Bessemer Association.
(b) The Mellon Association.
(c) The Roosevelt Association.
(d) The John D. Rockefeller Association.

13. 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) $250,000.
(b) $2,500.
(c) $25,000.
(d) $2.5 million.

14. William Coleman also shares Carnegie's interest and enthusiasm in what?
(a) Steel.
(b) Technology.
(c) Retail.
(d) Oil.

15. The partners want Frick to exercise power without Carnegie. Why?
(a) He has good ideas for growth in the company.
(b) He is easier to manipulate than Carnegie.
(c) He is more trustworthy than Carnegie.
(d) He is more likely to keep wage costs down.

Short Answer Questions

1. 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.

2. The 1893 depression is caused by what?

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

4. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.

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

(see the answer keys)

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