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. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.
(a) Oil-burning steam boilers.
(b) Coal-fired steam boilers.
(c) Electric steam boilers.
(d) Wood-burning steam boilers.

2. Carnegie is cautious in his investments by limiting them to what?
(a) Firms he has studied for several months.
(b) Small firms.
(c) Firms he knows about that are related to the Pennsylvania Railroad.
(d) Firms his friends suggest.

3. In following years Carnegie gets at least ___________ for a net investment of $217.50 until 1870 when he sells out.
(a) $5,000.
(b) $50,000.
(c) $50.
(d) $500.

4. This old craft is destroyed in _______ years, along with Will Carnegie's job and his town's main source of income.
(a) Ten.
(b) Eight.
(c) Twenty.
(d) Eighteen.

5. Previously Margaret Carnegie's sisters, Annie Aitken and Kitty Hogan immigrate in __________, and write of good and bad times there.
(a) 1835.
(b) 1830.
(c) 1840.
(d) 1845.

6. Will is unable to catch on to new opportunities and reverts back to weaving and selling his wares on the street, which does what?
(a) Builds his self-confidence and brings pride to his family.
(b) Destroys his self-confidence and shames his family.
(c) Brings him more work than when he had his factory job.
(d) Provides a significant income for his family.

7. Carnegie becomes an expert in Pittsburgh's _____________ business.
(a) Mining.
(b) Manufacturing.
(c) Financial.
(d) Commercial.

8. 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) $561.
(c) $5,610.
(d) $561,100.

9. 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 Cross Continental Company.
(d) The Atlantic Pacific Company.

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

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

12. Coleman wants to raise the price of oil by doing what?
(a) Raising the cost of shipping.
(b) Hoarding supply.
(c) Raising his workers' salaries.
(d) Raising his own salary.

13. In 1856, Scott advises him to buy what company as his first stock investment?
(a) Anthony Express Company.
(b) Adams Express Company.
(c) Amos Express Company.
(d) Aaron Express Company.

14. From 1867 through 1872, Andrew Carnegie joins the expansion trend by manipulating what stock to promote $30 million in stocks and bonds in Europe?
(a) Western Union and Union Pacific.
(b) Union Pacific and Pennsylvania Railroad.
(c) Woodruff and Western Union.
(d) Pennsylvania Railroad and Western Union.

15. Scott and Thomson like the Woodruff Sleeping Car Company that owns patents in 1858 but lacks what?
(a) Intelligence.
(b) Understanding of this business.
(c) Financial backing.
(d) The courage and business sense to develop them.

Short Answer Questions

1. Scott sends Carnegie off to where as a bond salesman with good wishes, a bag of bonds and letters of reference for the St. Louis Bridge Company?

2. _____________ is the focal point that straddles the east-west route where the Monongahela and Allegheny rivers join at the Ohio River.

3. Andrew's opportunity to escape the coal and oil of textile mills comes through _________ asking him to become a messenger boy with a telegraph company in Pittsburgh.

4. Business transactions at the time take place over what type of communication?

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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