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. Andrew Carnegie's last bond financing sale comes in July, _______ when he sells $6 million in bonds to Sulzbach Brothers, who buy bonds reluctantly, with Carnegie's encouragement.
(a) 1902.
(b) 1872.
(c) 1882.
(d) 1892.

2. _____________ is the focal point that straddles the east-west route where the Monongahela and Allegheny rivers join at the Ohio River.
(a) Pittsburgh.
(b) Youngstown.
(c) Philadelphia.
(d) Cleveland.

3. In 1849 when he takes the job, Carnegie is at the beginning of a period when capital, manpower and technology in the United States transitions from __________________.
(a) An old agricultural to a new industrial world.
(b) An old hunter and gatherer society to a new agricultural world.
(c) A new industrial world to an old agricultural world.
(d) An old industrial to a new agricultural world.

4. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.
(a) $34,000.
(b) $334 million.
(c) $3.4 milion.
(d) $3 billion.

5. It is _______________ private business firm in the world and is called "the standard railroad of the world."
(a) The largest.
(b) One of the smallest.
(c) The smallest.
(d) One of the largest.

Short Answer Questions

1. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?

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

3. Scot Andrew Carnegie became what?

4. How many people immigrate from the Old to the New World to embed the dream into an image of America far stronger than the success of a few like the Guggenheims and Vanderbilts?

5. The business is _______________ with conductors and station agents collecting millions in small coin revenue.

Short Essay Questions

1. Describe Carnegie's replacement of equipment.

2. Describe the firm and the new mill.

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

4. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?

5. What does Carnegie do in Europe?

6. Why do the Carnegies leave Scotland?

7. What are the jobs of the railroad managers?

8. How does industry benefit from Carnegie?

9. By what are all the partners bound?

10. What venture is formed between Tom Miller and Carnegie?

(see the answer keys)

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