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. Carnegie meets John Piper in 1856 in order to build _______ bridges, instead of wooden bridges that can be set afire from locomotive sparks and are not cost-effective beyond a certain span and load factor.
(a) Iron.
(b) Gold.
(c) Bronze.
(d) Steel.

2. Carnegie uses $11,000 in Woodruff dividends to buy 1,100 shares that pay $17,800 in their first year and eventually over _________ dollars.
(a) A million.
(b) Two hundred thousand.
(c) A thousand.
(d) Two million.

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

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

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

6. Success is due to the first president, ________________, and the superintendent of the western division, Tom Scott, who brings Andrew Carnegie into the modern system of train control.
(a) J. Edgar Smith.
(b) J. Edgar Thomson.
(c) J. Edgar Hoover.
(d) J. Edgar Johnson.

7. Andrew succeeds in the mastery of what business techniques?
(a) His friend's.
(b) New World.
(c) Old World.
(d) His parent's.

8. Scot Andrew Carnegie became what?
(a) The richest man in the world.
(b) The laziest man in the world.
(c) The scariest man in the world.
(d) The most powerful man in the world.

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

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

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

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

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) One of the smallest.
(d) The largest.

14. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.
(a) $10.
(b) $40.
(c) $20.
(d) $80.

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

Short Answer Questions

1. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.

2. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.

3. In 1863, his investments pay $45,460 and by 1868, he receives __________ per year for an investment of $817 that he borrows to make.

4. The Carnegies stay in their homeland as long as they can until conditions become intolerable in what town?

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

(see the answer keys)

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