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

2. Carnegie is cautious in his investments by limiting them to what?
(a) Firms his friends suggest.
(b) Small firms.
(c) Firms he has studied for several months.
(d) Firms he knows about that are related to the Pennsylvania Railroad.

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

4. Coleman wants to raise the price of oil by doing what?
(a) Raising his workers' salaries.
(b) Raising his own salary.
(c) Raising the cost of shipping.
(d) Hoarding supply.

5. With whom does Carnegie form Columbia Oil Company?
(a) Willard Coleman.
(b) Wilson Coleman.
(c) William Coleman.
(d) Wallece Coleman.

6. Scott sends Carnegie off to where as a bond salesman with good wishes, a bag of bonds and letters of reference for the St. Louis Bridge Company?
(a) Asia.
(b) Africa.
(c) Europe.
(d) California.

7. Who is the cornerstone of Carnegie's fortune, followed in 1861 by Columbia Oil?
(a) Pennsylvania Railroad.
(b) Woodruff.
(c) Coleman.
(d) Pullman.

8. The Carnegies stay in their homeland as long as they can until conditions become intolerable in what town?
(a) Dublin.
(b) Dunfermline.
(c) Madrid.
(d) Macon.

9. Carnegie uses a similar strategy to exit the Woodruff Company by reorganizing it into ________________ with new stockholders and the triumvirate unstated.
(a) The Atlantic Pacific Company.
(b) The Union Transport Company.
(c) The Central Transportation Company.
(d) The Cross Continental Company.

10. 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.

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

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

13. 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.

14. Pennsylvania Railroad buys from the Woodruff venture and offers what when borrowing?
(a) The credibility of a "strong corporation."
(b) A great deal of collateral.
(c) The credibility of a "big corporation."
(d) A discount on shipping.

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

Short Answer Questions

1. He leaves his Pittsburgh home and iron business to live in what city?

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

3. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?

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

5. 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.

(see the answer keys)

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