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

2. Managerial skill level reached over ______________ years exceeds that of the prior five centuries.
(a) Forty.
(b) Twenty-five.
(c) Thirty-five.
(d) Thirty.

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

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

5. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?
(a) Train repairs.
(b) Customer movement.
(c) Train movement.
(d) Customer interest.

6. Andrew begins to see the railroad industry as an opportunity to regain what?
(a) The pride he thinks the Carnegies lost by emigrating.
(b) His sense of self.
(c) His understanding of business.
(d) The money his family has lost.

7. This craft has been practiced by half its 11,000 people since when?
(a) The 18th century.
(b) The Renaissance.
(c) The 17th century.
(d) Medieval times.

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) 5 and 7 to one.
(c) 3 and 4 to one.
(d) 3 and 5 to one.

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

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

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

12. 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) 55.
(b) 85.
(c) 75.
(d) 65.

13. 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 "strong corporation."
(d) The credibility of a "big corporation."

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

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

Short Answer Questions

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

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

3. Previously Margaret Carnegie's sisters, Annie Aitken and Kitty Hogan immigrate in __________, and write of good and bad times there.

4. When his father dies in 1855, Andrew calls him what?

5. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?

(see the answer keys)

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