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

2. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.
(a) $80.
(b) $20.
(c) $10.
(d) $40.

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

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

5. Seeds of ambivalence develop within Andrew to appreciate what ideas?
(a) His friend's.
(b) His parent's.
(c) New World.
(d) Old World.

6. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?
(a) Any of his own money.
(b) The money of others.
(c) His connections.
(d) Manipulation.

7. 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) 3 and 4 to one.
(b) 3 and 5 to one.
(c) 5 and 7 to one.
(d) 2 and 4 to one.

8. 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) 85.
(b) 55.
(c) 65.
(d) 75.

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

10. What characterizes America?
(a) The "American dream."
(b) The "American car."
(c) The "American willpower."
(d) The "American pride."

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

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

13. 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) $561.
(b) $561,100.
(c) $56,110.
(d) $5,610.

14. Margaret Carnegie's sister precedes her move to America and Annie Aitken provides them what?
(a) Food.
(b) Rent-free housing.
(c) Low-rent housing.
(d) Employment.

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

Short Answer Questions

1. Carnegie and his triumvirate get a franchise from Pennsylvania Railroad with the benefits of existing poles and franchising from Trenton through to what?

2. The business is _______________ with conductors and station agents collecting millions in small coin revenue.

3. The Carnegies stay in their homeland as long as they can until conditions become intolerable in what town?

4. This craft has been practiced by half its 11,000 people since when?

5. Coleman wants to raise the price of oil by doing what?

(see the answer keys)

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