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 sells Central patents for ____________ to Pullman and they exchange shares for no money to form the new company.
(a) $200.
(b) $20,000.
(c) $2,000.
(d) $200,000.

2. 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 Scottish passengers.
(b) Sail from Great Britain with fellow Irish passengers.
(c) Sail from Spain with fellow Spanish passengers.
(d) Sail from France with fellow French passengers.

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

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

5. In 1849 when he takes the job, Carnegie is at the beginning of a period when capital, manpower and technology in the United States transitions from __________________.
(a) A new industrial world to an old agricultural world.
(b) An old hunter and gatherer society to a new agricultural world.
(c) An old agricultural to a new industrial world.
(d) An old industrial to a new agricultural world.

6. Within _______ years of arriving in America, the Carnegies recoup their fortune through the help of their friends, relatives, and countrymen in America and earn more income that they ever received in Scotland.
(a) Two.
(b) Four.
(c) Eight.
(d) Six.

7. Andrew Carnegie's last bond financing sale comes in July, _______ when he sells $6 million in bonds to Sulzbach Brothers, who buy bonds reluctantly, with Carnegie's encouragement.
(a) 1882.
(b) 1872.
(c) 1902.
(d) 1892.

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

9. 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.
(a) Fourteen.
(b) Sixteen.
(c) Twelve.
(d) Eighteen.

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

11. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.
(a) Electric steam boilers.
(b) Wood-burning steam boilers.
(c) Oil-burning steam boilers.
(d) Coal-fired steam boilers.

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

13. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.
(a) 1868.
(b) 1858.
(c) 1862.
(d) 1852.

14. From 1867 through 1872, Andrew Carnegie joins the expansion trend by manipulating what stock to promote $30 million in stocks and bonds in Europe?
(a) Pennsylvania Railroad and Western Union.
(b) Western Union and Union Pacific.
(c) Woodruff and Western Union.
(d) Union Pacific and Pennsylvania Railroad.

15. 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.

Short Answer Questions

1. Seeds of ambivalence develop within Andrew to appreciate what ideas?

2. He forms an informal investing ____________ with Thomson and Scott.

3. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?

4. Pennsylvania Railroad buys from the Woodruff venture and offers what when borrowing?

5. Will is unable to catch on to new opportunities and reverts back to weaving and selling his wares on the street, which does what?

(see the answer keys)

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