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. What is the town's industry in 1835?
(a) Basket weaving.
(b) Silk weaving.
(c) Hand weaving.
(d) Knitting.

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

3. Except for Tom, the youngest who is in school, Will and Margaret go to work by weaving and shoe-binding, and Andrew as what in a textile mill?
(a) A bobbin boy.
(b) An errand boy.
(c) A weaver.
(d) A shoe-binder.

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

5. 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) 85.
(c) 75.
(d) 55.

6. He leaves his Pittsburgh home and iron business to live in what city?
(a) Detroit.
(b) New York City.
(c) Los Angeles.
(d) Boston.

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

8. 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) A discount on shipping.
(d) The credibility of a "big corporation."

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

10. 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) $5,610.
(d) $561.

11. In 1856, Scott advises him to buy what company as his first stock investment?
(a) Anthony Express Company.
(b) Aaron Express Company.
(c) Amos Express Company.
(d) Adams Express Company.

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

13. 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 Johnson.
(b) J. Edgar Hoover.
(c) J. Edgar Smith.
(d) J. Edgar Thomson.

14. 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 thousand.
(b) A million.
(c) Two hundred thousand.
(d) Two million.

15. Their town is at one time known as the most radical in the kingdom, as a result of the influence of ______________ who demand concessions from Parliament, primarily political equality.
(a) GRAPO.
(b) World Socialist Movement.
(c) The Chartists.
(d) The Committee for a Workers' International.

Short Answer Questions

1. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.

2. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?

3. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.

4. Who is the cornerstone of Carnegie's fortune, followed in 1861 by Columbia Oil?

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

(see the answer keys)

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