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

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

3. 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) $561,100.
(b) $5,610.
(c) $56,110.
(d) $561.

4. 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?
(a) Tens of thousands.
(b) Hundreds.
(c) Tens of billions.
(d) Tens of millions.

5. Railroads need huge amounts of what to construct track and more as they expand?
(a) Capital.
(b) Equipment.
(c) Technological understanding.
(d) Trust.

6. Scott leaves Carnegie in charge when he does what?
(a) Takes a ten-day trip.
(b) Has mandatory surgery.
(c) Retires.
(d) Quits.

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

8. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?
(a) Railroad management skills.
(b) Organizational skills.
(c) Railroad technology skills.
(d) Sales skills.

9. By the age of __________ Carnegie manages a complex, multi-unit industrial enterprise and capitalizes on knowing the value of money based on what it can earn.
(a) Twenty-eight.
(b) Twenty-five.
(c) Thirty-eight.
(d) Thirty.

10. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?
(a) He gets injured.
(b) He gets a college scholarship.
(c) He gets promoted to a management position.
(d) He gets an office opportunity in accounting.

11. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?
(a) 55.
(b) 85.
(c) 75.
(d) 65.

12. Carnegie uses a similar strategy to exit the Woodruff Company by reorganizing it into ________________ with new stockholders and the triumvirate unstated.
(a) The Central Transportation Company.
(b) The Union Transport Company.
(c) The Atlantic Pacific Company.
(d) The Cross Continental Company.

13. Carnegie perfects business techniques to transform an iron and steel industry comprised of many small producers into what for the first time?
(a) Government-controlled business.
(b) Big business.
(c) Small business.
(d) No business.

14. Managerial skill level reached over ______________ years exceeds that of the prior five centuries.
(a) Twenty-five.
(b) Forty.
(c) Thirty-five.
(d) Thirty.

15. This craft has been practiced by half its 11,000 people since when?
(a) The 17th century.
(b) Medieval times.
(c) The Renaissance.
(d) The 18th century.

Short Answer Questions

1. Scott and Thomson hold stock in Carnegie's name for what reason?

2. 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.

3. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.

4. Seeds of ambivalence develop within Andrew to appreciate what ideas?

5. Except for Tom, the youngest who is in school, Will and Margaret go to work by weaving and shoe-binding, and Andrew as what in a textile mill?

(see the answer keys)

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