Andrew Carnegie and the Rise of Big Business Test | Mid-Book Test - Medium

Harold C. Livesay
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. Carnegie's first installment on his one-eighth interest in Woodruff is $217.50 borrowed from the bank. The balance is paid by dividends in the venture's ________ year.
(a) Fourth.
(b) Third.
(c) Second.
(d) First.

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

4. Carnegie proposes they cooperate rather than bid against each other and suggests what be the joint venture?
(a) "The Pullman-Carnegie Car Company."
(b) "The Carnegie Car Company."
(c) "The Pullman Palace Car Company."
(d) "The Pullman Sleeper Car Company."

5. A typical pattern in the ____________ century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.
(a) Sixteenth.
(b) Eighteenth.
(c) Nineteenth.
(d) Seventeenth.

Short Answer Questions

1. 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.

2. 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?

3. Railroads need huge amounts of what to construct track and more as they expand?

4. With whom does Carnegie form Columbia Oil Company?

5. Andrew goes to night school in bookkeeping at what age?

Short Essay Questions

1. Who are Roberto Goizuetta and Any Grove?

2. The partners pledge an investment to be made in installments paid when due or by the company as credit for dividends payable on the whole investment. Give an example of this pledge in action.

3. What agreement is made between the triumvirate and James L. Shaw?

4. Describe the informal investing triumvirate Carnegie formed with Thomson and Scott.

5. Describe the Columbia Oil Company.

6. What happens within two years of arriving in America?

7. Describe Carnegie's rise in business by 1865.

8. Give an example of how the size and complexity of a railroad business requires creation of bureaucratic organization, structure, and policy to fit the needs.

9. How does Carnegie determine he can profit from the boom in telegraphy?

10. By what is this dream not diminished?

(see the answer keys)

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