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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 does Andrew dislike about the oil business that seems beyond control of management until the 1880s and Rockefeller?
(a) The instability of the economy.
(b) The destructive properties of oil.
(c) The fluctuation of price.
(d) The smell, messiness and waste.

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

3. By the age of __________ Carnegie manages a complex, multi-unit industrial enterprise and capitalizes on knowing the value of money based on what it can earn.
(a) Thirty-eight.
(b) Twenty-five.
(c) Thirty.
(d) Twenty-eight.

4. What is the town's industry in 1835?
(a) Basket weaving.
(b) Knitting.
(c) Hand weaving.
(d) Silk weaving.

5. Scott and Thomson hold stock in Carnegie's name for what reason?
(a) Carnegie will not allow them to hold stock in anyone else's name.
(b) They are afraid to hold stock in their own.
(c) To avoid impropriety for Carnegie's one-eighth interest.
(d) Carnegie is very well-known and trusted.

Short Answer Questions

1. Railroads link Pittsburgh to the Atlantic coast and eventually to the Pacific coast, with the _______________ the best of them all.

2. 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.

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

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

5. 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.

Short Essay Questions

1. Describe Carnegie's investment in Keystone Bridge Company.

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

3. By what is this dream not diminished?

4. What does Carnegie do when Pacific dividend payments stop?

5. What happens on July 15, 1848?

6. What work do the Carnegies find in America?

7. How does industry benefit from Carnegie?

8. Who is George M. Pullman? How do he and Carnegie become involved in business together?

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

10. Describe the Pennsylvania Railroad in 1865.

(see the answer keys)

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