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. Carnegie is cautious in his investments by limiting them to what?
(a) Small firms.
(b) Firms his friends suggest.
(c) Firms he knows about that are related to the Pennsylvania Railroad.
(d) Firms he has studied for several months.

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

3. Erie and Pennsylvania Railroads each have ________ thousand employees trained into a disciplined workforce.
(a) Four.
(b) Eight.
(c) Thirteen.
(d) Ten.

4. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?
(a) Sales skills.
(b) Organizational skills.
(c) Railroad technology skills.
(d) Railroad management skills.

5. The triumvirate agrees to sell at once for what reason?
(a) They want to get rid of shares.
(b) It is the most logical plan.
(c) Since it has no dollar investment in the transaction.
(d) There are no better offers.

Short Answer Questions

1. A new competitor, ________________ , decides a lavishly decorated "rolling palace" may have an edge, and by 1867 he has forty-eight in service.

2. In 1863, his investments pay $45,460 and by 1868, he receives __________ per year for an investment of $817 that he borrows to make.

3. Andrew's opportunity to escape the coal and oil of textile mills comes through _________ asking him to become a messenger boy with a telegraph company in Pittsburgh.

4. Andrew succeeds in the mastery of what business techniques?

5. He leaves his Pittsburgh home and iron business to live in what city?

Short Essay Questions

1. What does Carnegie learn at the Pennsylvania Railroad?

2. How does Carnegie benefit from cutting costs?

3. What are the benefits of the Cyclops and Union Mills merger?

4. 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.

5. Why do the Carnegies leave Scotland?

6. What happens on July 15, 1848?

7. What stages of the steel industry does Carnegie succeed?

8. By what is this dream not diminished?

9. Describe Captain Bill Jones' management of labor.

10. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?

(see the answer keys)

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