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. 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 needs money.
(d) He believes it is one of his best ideas.

2. 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.
(a) His Uncle Heathe.
(b) His Uncle Henry.
(c) His Uncle Harold.
(d) His Uncle Hogan.

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

4. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.
(a) $34,000.
(b) $3 billion.
(c) $3.4 milion.
(d) $334 million.

5. In _________, the transcontinental Union Pacific seeks bids from sleeping car companies for its expansion.
(a) 1864.
(b) 1857.
(c) 1867.
(d) 1877.

6. Seeds of ambivalence develop within Andrew to appreciate what ideas?
(a) Old World.
(b) New World.
(c) His parent's.
(d) His friend's.

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

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

9. Carnegie proposes they cooperate rather than bid against each other and suggests what be the joint venture?
(a) "The Carnegie Car Company."
(b) "The Pullman Palace Car Company."
(c) "The Pullman-Carnegie Car Company."
(d) "The Pullman Sleeper Car Company."

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

11. _____________ is the focal point that straddles the east-west route where the Monongahela and Allegheny rivers join at the Ohio River.
(a) Youngstown.
(b) Cleveland.
(c) Philadelphia.
(d) Pittsburgh.

12. Railroads link Pittsburgh to the Atlantic coast and eventually to the Pacific coast, with the _______________ the best of them all.
(a) CSX Corporation.
(b) Pennsylvania Railroad.
(c) Union Pacific.
(d) BNSF Railway Company.

13. It is _______________ private business firm in the world and is called "the standard railroad of the world."
(a) The smallest.
(b) One of the largest.
(c) The largest.
(d) One of the smallest.

14. 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) $561,100.
(c) $561.
(d) $5,610.

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

Short Answer Questions

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

2. Carnegie meets railroad's ____________ and initiates control of division operations when needed.

3. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?

4. Coleman wants to raise the price of oil by doing what?

5. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?

(see the answer keys)

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