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. Previously Margaret Carnegie's sisters, Annie Aitken and Kitty Hogan immigrate in __________, and write of good and bad times there.
(a) 1835.
(b) 1840.
(c) 1830.
(d) 1845.

2. 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) 75.
(c) 55.
(d) 85.

3. Carnegie perfects business techniques to transform an iron and steel industry comprised of many small producers into what for the first time?
(a) Small business.
(b) No business.
(c) Big business.
(d) Government-controlled business.

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

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

6. Andrew goes to night school in bookkeeping at what age?
(a) Eighteen.
(b) Fourteen.
(c) Sixteen.
(d) Twenty.

7. The size and complexity of a railroad business requires creation of bureaucratic organization, structure, and what else?
(a) Policy to fit the needs.
(b) A union.
(c) A hiring process.
(d) Benefits for workers.

8. Carnegie's ideas about machines, individual success and the American political system contribute to the development and growth of what?
(a) The industrial economy.
(b) The barter economy.
(c) The market based economy.
(d) The digital Economy.

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

10. 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.

11. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?
(a) Organizational skills.
(b) Railroad management skills.
(c) Sales skills.
(d) Railroad technology skills.

12. Business transactions at the time take place over what type of communication?
(a) Internet.
(b) Telephone.
(c) Letter.
(d) Telegraphic.

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

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

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

Short Answer Questions

1. Whose pioneering skills in management are codified in his "Book of Rules and the Employees' Timetable?"

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.

3. By ________, the Pennsylvania Railroad runs 3,500 miles of track with 30,000 employees and $61 million invested.

4. 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.

5. Scott leaves Carnegie in charge when he does what?

(see the answer keys)

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