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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. American capitalism and democracy conflict in the fear that economic justice requires what?
(a) Small government.
(b) An inactive government.
(c) An active interventionist role for government.
(d) No government.

3. Carnegie leases the iron ore properties from this man. Why?
(a) To keep him happy.
(b) To keep him out of the steel business.
(c) To retire slowly from the industry.
(d) To make him a partner.

4. 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 likely to keep wage costs down.
(d) He is more trustworthy than Carnegie.

5. Other operating benefits like reduced inventory and less machine duplication create cost savings to enable __________________at a market-competitive rate.
(a) Increased prices and increased profitability.
(b) Increased prices and reduced profitability.
(c) Reduced prices and increased profitability.
(d) Reduced prices and reduced profitability.

Short Answer Questions

1. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?

2. Americans in the North have how many years of peace and prosperity as they begin to exploit American markets?

3. Carnegie acquires _______ of the eight failing rail mills and follows an aggressive policy of price-cutting to anticipate its direction and expand sales.

4. Carnegie's labor guidelines and Captain Bill's implementation works well until 1889 when what happens to Bill?

5. 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.

Short Essay Questions

1. What happens when Carnegie goes to Scotland?

2. Describe Captain Bill Jones' management of labor.

3. What does the entrepreneurial Carnegie begin in 1872? Describe his work at this time.

4. How does Carnegie rely on the McCallum system?

5. Describe Carnegie's replacement of equipment.

6. What does Schwab do for the business?

7. Why does Carnegie hire Alexander Holley?

8. What are the benefits of the Cyclops and Union Mills merger?

9. Why does Andrew not help Tom Scott? What are the effects of this decision?

10. Describe American steel companies between 1870 and 1900.

(see the answer keys)

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