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. 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) Thirty-eight.
(c) Twenty-five.
(d) Thirty.

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

3. What does Andrew dislike about the oil business that seems beyond control of management until the 1880s and Rockefeller?
(a) The instability of the economy.
(b) The destructive properties of oil.
(c) The smell, messiness and waste.
(d) The fluctuation of price.

4. Business transactions at the time take place over what type of communication?
(a) Letter.
(b) Telephone.
(c) Internet.
(d) Telegraphic.

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

6. Carnegie rises from bobbin boy at __________ per week in 1850 to railroad superintendent at $2,400 per year in 1865.
(a) $120.00
(b) $1.20.
(c) $0.12.
(d) $12.00.

7. The Carnegies stay in their homeland as long as they can until conditions become intolerable in what town?
(a) Macon.
(b) Dublin.
(c) Madrid.
(d) Dunfermline.

8. Who was the founder of Intel and Liz Claibourne?
(a) American Cuba Gooding, Jr.
(b) Hungarian Andy Grove.
(c) Cuban Roberto Goizuetta.
(d) Indian Pooja Patel.

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

10. By ________, the Pennsylvania Railroad runs 3,500 miles of track with 30,000 employees and $61 million invested.
(a) 1875.
(b) 1865.
(c) 1870.
(d) 1860.

11. 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.
(a) Fourth.
(b) Third.
(c) Second.
(d) First.

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

13. A new competitor, ________________ , decides a lavishly decorated "rolling palace" may have an edge, and by 1867 he has forty-eight in service.
(a) Gerold M. Pullman.
(b) Gary M. Pullman.
(c) George M. Pullman.
(d) Geoff M. Pullman.

14. Andrew Carnegie's last bond financing sale comes in July, _______ when he sells $6 million in bonds to Sulzbach Brothers, who buy bonds reluctantly, with Carnegie's encouragement.
(a) 1882.
(b) 1892.
(c) 1902.
(d) 1872.

15. Thirteen year-old Andrew sees his father fail while admiring whose determination to rise above it?
(a) His aunt's.
(b) His mother's.
(c) His uncle's.
(d) His brother's.

Short Answer Questions

1. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.

2. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.

3. Carnegie promotes expanding with other Pennsylvania-controlled franchises through Scott and assures construction in his contracting business by bartering Pacific stock for construction costs with ___________ exchange rates.

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

5. Will is unable to catch on to new opportunities and reverts back to weaving and selling his wares on the street, which does what?

(see the answer keys)

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