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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. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?
(a) No.
(b) Yes.
(c) Partially.
(d) Mostly.

2. Carnegie's methods in steel concentrate what?
(a) The beginnings of pollution problems.
(b) The beginnings of the American steel industry.
(c) The first industry in the world.
(d) The first American industry.

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

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

5. After this steel company's acquisition for _____ million bonds, Frick restructures all the related companies with Carnegie Steel Company, Limited taking over assets of Carnegie Brothers and Carnegie Phipps with a $25 million capital base, distributing to Carnegie 55 percent, Frick and Phipps both 11 percent each, 1 percent each to nineteen partners and 4 percent reserve for key staff.
(a) $1.
(b) $2.
(c) $4.
(d) $3.

Short Answer Questions

1. Only how many of the original nine partners remain?

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

3. Henry Phipps reviews blast furnace operations where flue-cinders are thrown away. What happens to puddling furnace cinders?

4. Corruption in construction of the Union Pacific Railroad is exposed with what scandal where congressmen get railroad stock to misuse public funds?

5. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.

Short Essay Questions

1. What happens when Carnegie goes to Scotland?

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

3. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?

4. Describe the firm and the new mill.

5. Describe the economic collapse. How are Carnegie and others affected by it?

6. Carnegie's interest and insistence on cost-cutting leads him into more complex areas of manufacturing detail composition and chemistry. Give an example of this.

7. Describe the seven years of peace and prosperity in the North.

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

9. Why does Carnegie hire Alexander Holley?

10. Describe Carnegie's replacement of equipment.

(see the answer keys)

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