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

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

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

4. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?
(a) He trusts Carnegie.
(b) He believes it is one of his best ideas.
(c) He needs money.
(d) He is ignorant of this poor decision.

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

Short Answer Questions

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

2. This old craft is destroyed in _______ years, along with Will Carnegie's job and his town's main source of income.

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

4. Railroad ______________ run the trains, maintain rolling stock and track, price and collect charges for service on passenger and freight trains running in both directions to meet demand.

5. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?

Short Essay Questions

1. What does Andrew do from 1867 through 1872?

2. How does Andrew escape the textile mills?

3. What happens on July 15, 1848?

4. What work do the Carnegies find in America?

5. By what is this dream not diminished?

6. How is Carnegie cautious in his investments? How might this help him throughout his career?

7. What are the jobs of the railroad managers?

8. What does Carnegie learn at the Pennsylvania Railroad?

9. Who are Roberto Goizuetta and Any Grove?

10. How do family members and friends help immigrants? How is Carnegie's family helped?

(see the answer keys)

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