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. Who is Cuban Roberto Goizuetta?
(a) The deceased chairman of Coca-Cola.
(b) The deceased chairman of Applebee's.
(c) The deceased CEO of Intel.
(d) The deceased president of Liz Claiborne.

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

3. 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) 1872.
(d) 1902.

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

5. 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) Eighteen.
(b) Sixteen.
(c) Twelve.
(d) Fourteen.

6. Scott and Thomson hold stock in Carnegie's name for what reason?
(a) They are afraid to hold stock in their own.
(b) Carnegie will not allow them to hold stock in anyone else's name.
(c) To avoid impropriety for Carnegie's one-eighth interest.
(d) Carnegie is very well-known and trusted.

7. Andrew's job delivering telegraph messages puts him in touch with whom?
(a) Business producers on their way to national prominence.
(b) Many irate individuals.
(c) The President of the United States.
(d) People of varying races.

8. 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.
(a) 2 and 4 to one.
(b) 3 and 5 to one.
(c) 3 and 4 to one.
(d) 5 and 7 to one.

9. Andrew Carnegie becomes known as the city's best _____________.
(a) Student.
(b) Leader.
(c) Politician.
(d) Operator.

10. 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 billions.
(b) Tens of thousands.
(c) Hundreds.
(d) Tens of millions.

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

12. 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?
(a) A bobbin boy.
(b) An errand boy.
(c) A shoe-binder.
(d) A weaver.

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

14. 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) Provides a significant income for his family.
(b) Builds his self-confidence and brings pride to his family.
(c) Brings him more work than when he had his factory job.
(d) Destroys his self-confidence and shames his family.

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

Short Answer Questions

1. In 1856, Scott advises him to buy what company as his first stock investment?

2. This craft has been practiced by half its 11,000 people since when?

3. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?

4. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?

5. What does Andrew dislike about the oil business that seems beyond control of management until the 1880s and Rockefeller?

(see the answer keys)

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