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

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

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

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

5. Carnegie tries to use public relations, legislative action and threatens who to drive shipping costs down?
(a) John D. Rockefeller.
(b) A competitor railroad.
(c) The unions.
(d) A competitor in the steel industry.

Short Answer Questions

1. Who rescues Merritt's Mesabi Range from bankruptcy?

2. Carnegie progresses from rolling rail to rolling structural beams and angles for bridges, skyscrapers, and ________________.

3. 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.

4. They make a deal that is considered what?

5. Carnegie eliminates the costly fire insurance on his wooden buildings by replacing them with what?

Short Essay Questions

1. Who is Homestead? How does Carnegie deal with Homestead?

2. What causes the 1893 depression? What does Carnegie do at this time?

3. How does Carnegie benefit from cutting costs?

4. What is a second dimension necessary to effect this integration?

5. How is Rockefeller involved in Carnegie's business?

6. Describe the firm and the new mill.

7. Describe American steel companies between 1870 and 1900.

8. Describe Carnegie's replacement of equipment.

9. What venture is formed between Tom Miller and Carnegie?

10. Describe Carnegie's partners at this time.

(see the answer keys)

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