Andrew Carnegie and the Rise of Big Business Test | Mid-Book Test - Easy

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

Multiple Choice Questions

1. In 1863, his investments pay $45,460 and by 1868, he receives __________ per year for an investment of $817 that he borrows to make.
(a) $56,110.
(b) $5,610.
(c) $561,100.
(d) $561.

2. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?
(a) He needs money.
(b) He believes it is one of his best ideas.
(c) He is ignorant of this poor decision.
(d) He trusts Carnegie.

3. Whose pioneering skills in management are codified in his "Book of Rules and the Employees' Timetable?"
(a) David McClure's.
(b) Darrel McAllister's.
(c) Duane McMahon's.
(d) Daniel McCallum's.

4. Their town is at one time known as the most radical in the kingdom, as a result of the influence of ______________ who demand concessions from Parliament, primarily political equality.
(a) GRAPO.
(b) The Committee for a Workers' International.
(c) The Chartists.
(d) World Socialist Movement.

5. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?
(a) His connections.
(b) The money of others.
(c) Manipulation.
(d) Any of his own money.

6. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.
(a) Three-step.
(b) Five-step.
(c) Two-step.
(d) Four-step.

7. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?
(a) One fourth.
(b) One half.
(c) One eighth.
(d) One third.

8. Carnegie works ___________ years at the Pennsylvania Railroad while he develops managerial skill, economic principles and personal relationships to become a successful manager, capitalist and entrepreneur.
(a) Sixteen.
(b) Twelve.
(c) Eighteen.
(d) Fourteen.

9. Andrew begins to see the railroad industry as an opportunity to regain what?
(a) The money his family has lost.
(b) His sense of self.
(c) The pride he thinks the Carnegies lost by emigrating.
(d) His understanding of business.

10. When his father dies in 1855, Andrew calls him what?
(a) A man not of the world.
(b) An embarrassment.
(c) A man of the world.
(d) A loser.

11. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.
(a) 40.
(b) 20.
(c) 50.
(d) 30.

12. Who is the cornerstone of Carnegie's fortune, followed in 1861 by Columbia Oil?
(a) Pullman.
(b) Coleman.
(c) Woodruff.
(d) Pennsylvania Railroad.

13. He forms an informal investing ____________ with Thomson and Scott.
(a) Triumvirate.
(b) Duumvirate.
(c) Quadrumvirate.
(d) Quintumvirate.

14. Andrew succeeds in the mastery of what business techniques?
(a) His parent's.
(b) His friend's.
(c) New World.
(d) Old World.

15. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?
(a) Customer movement.
(b) Train movement.
(c) Train repairs.
(d) Customer interest.

Short Answer Questions

1. Carnegie becomes an expert in Pittsburgh's _____________ business.

2. How many people immigrate from the Old to the New World to embed the dream into an image of America far stronger than the success of a few like the Guggenheims and Vanderbilts?

3. Previously Margaret Carnegie's sisters, Annie Aitken and Kitty Hogan immigrate in __________, and write of good and bad times there.

4. Carnegie's first installment on his one-eighth interest in Woodruff is $217.50 borrowed from the bank. The balance is paid by dividends in the venture's ________ year.

5. Margaret Carnegie's sister precedes her move to America and Annie Aitken provides them what?

(see the answer keys)

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