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

Multiple Choice Questions

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

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

3. Carnegie's pace of ___________ replacement needs continuous reinvestment of profits to the exclusion of significant dividend payments.
(a) Policy.
(b) Management.
(c) Equipment.
(d) Employee.

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

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

6. 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.

7. 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) $2,500.
(c) $2.5 million.
(d) $250,000.

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

9. They make a deal that is considered what?
(a) Carnegie's greatest achievement.
(b) Carnegie's least important achievement.
(c) A poor decision.
(d) Carnegie's most surprising decisions.

10. 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) $400,000.
(b) $4,000.
(c) $4 million.
(d) $40,000.

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

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

13. Captain Bill Jones claims success in managing labor by doing what?
(a) Keeping crews "judiciously mixed."
(b) Raising the crews' salaries.
(c) Keeping crews "judiciously separated."
(d) Firing the instigators in the crew.

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

15. Bank failures destroy personal savings, social safety nets are nonexistent and workers retreat to the family farm or where?
(a) Canada.
(b) The coasts.
(c) The city.
(d) The mother country.

Short Answer Questions

1. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.

2. The industrial economy is crippled with some __________________ firms failing over six years.

3. The partners want Frick to exercise power without Carnegie. Why?

4. The 1893 depression is caused by what?

5. Carnegie pressures management and Frick resigns again. Is his resignation accepted?

(see the answer keys)

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