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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 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 Mellon Association.
(b) The John D. Rockefeller Association.
(c) The Bessemer Association.
(d) The Roosevelt Association.

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

3. The industrial economy is crippled with some __________________ firms failing over six years.
(a) 12,000.
(b) 1,200.
(c) 120.
(d) 5,000.

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

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

Short Answer Questions

1. Schwab cuts $500,000 in costs at Homestead by __________________ and replacing skilled labor with machines and unskilled workers.

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

3. Carnegie forces another _____________ partners out until only Schwab survives, while bringing in "young geniuses" who prove their merit on cost sheets.

4. However, by 1881, a competitor Homestead has the most modern equipment, but is plagued by what problems for two years?

5. When Carnegie decides what furnace is more effective, he orders six more to be built immediately.

Short Essay Questions

1. How does Carnegie benefit from cutting costs?

2. Describe Carnegie's partners at this time.

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

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

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

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

7. What does Schwab do for the business?

8. Describe Carnegie's replacement of equipment.

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

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

(see the answer keys)

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