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. Scott leaves Carnegie in charge when he does what?
(a) Quits.
(b) Retires.
(c) Has mandatory surgery.
(d) Takes a ten-day trip.

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

3. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.
(a) Five-step.
(b) Four-step.
(c) Two-step.
(d) Three-step.

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.
(a) Executives.
(b) Stockholders.
(c) Employees.
(d) Managers.

5. 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 shoe-binder.
(b) A weaver.
(c) An errand boy.
(d) A bobbin boy.

Short Answer Questions

1. Previously Margaret Carnegie's sisters, Annie Aitken and Kitty Hogan immigrate in __________, and write of good and bad times there.

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.

3. 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.

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

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?

Short Essay Questions

1. What does Andrew do from 1867 through 1872?

2. What characterizes America? To what does this refer?

3. How is Pittsburgh important at this time?

4. 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.

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

6. What work do the Carnegies find in America?

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

8. Give an example of when Carnegie meets railroad's customers and initiates control of division operations when needed.

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

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

(see the answer keys)

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