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. What is the town's industry in 1835?
(a) Hand weaving.
(b) Knitting.
(c) Silk weaving.
(d) Basket weaving.

2. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?
(a) Sail from Great Britain with fellow Irish passengers.
(b) Sail from Great Britain with fellow Scottish passengers.
(c) Sail from Spain with fellow Spanish passengers.
(d) Sail from France with fellow French passengers.

3. What railroad focuses capital investments that either increase revenue or reduce unit cost to justify them?
(a) BNSF.
(b) Pennsylvania.
(c) CSX.
(d) Union Pacific.

4. Pennsylvania Railroad buys from the Woodruff venture and offers what when borrowing?
(a) A discount on shipping.
(b) A great deal of collateral.
(c) The credibility of a "big corporation."
(d) The credibility of a "strong corporation."

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

6. In 1849 when he takes the job, Carnegie is at the beginning of a period when capital, manpower and technology in the United States transitions from __________________.
(a) A new industrial world to an old agricultural world.
(b) An old hunter and gatherer society to a new agricultural world.
(c) An old industrial to a new agricultural world.
(d) An old agricultural to a new industrial world.

7. Carnegie sells Central patents for ____________ to Pullman and they exchange shares for no money to form the new company.
(a) $200,000.
(b) $20,000.
(c) $200.
(d) $2,000.

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

9. Railroad ______________ run the trains, maintain rolling stock and track, price and collect charges for service on passenger and freight trains running in both directions to meet demand.
(a) Stockholders.
(b) Executives.
(c) Managers.
(d) Employees.

10. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.
(a) 1858.
(b) 1862.
(c) 1852.
(d) 1868.

11. Erie and Pennsylvania Railroads each have ________ thousand employees trained into a disciplined workforce.
(a) Ten.
(b) Four.
(c) Eight.
(d) Thirteen.

12. Carnegie meets railroad's ____________ and initiates control of division operations when needed.
(a) Customers.
(b) Critics.
(c) Executives.
(d) Managers.

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

14. 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) 65.
(b) 55.
(c) 85.
(d) 75.

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

Short Answer Questions

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

2. From 1867 through 1872, Andrew Carnegie joins the expansion trend by manipulating what stock to promote $30 million in stocks and bonds in Europe?

3. Who is Cuban Roberto Goizuetta?

4. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?

5. In _________, the transcontinental Union Pacific seeks bids from sleeping car companies for its expansion.

(see the answer keys)

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