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. This old craft is destroyed in _______ years, along with Will Carnegie's job and his town's main source of income.
(a) Eighteen.
(b) Ten.
(c) Twenty.
(d) Eight.

2. Carnegie's ideas about machines, individual success and the American political system contribute to the development and growth of what?
(a) The industrial economy.
(b) The market based economy.
(c) The barter economy.
(d) The digital Economy.

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

4. The Carnegies stay in their homeland as long as they can until conditions become intolerable in what town?
(a) Madrid.
(b) Macon.
(c) Dublin.
(d) Dunfermline.

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

Short Answer Questions

1. A typical pattern in the ____________ century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.

2. The triumvirate agrees to sell at once for what reason?

3. What railroad focuses capital investments that either increase revenue or reduce unit cost to justify them?

4. Andrew's job delivering telegraph messages puts him in touch with whom?

5. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?

Short Essay Questions

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

2. Describe the Pennsylvania Railroad in 1865.

3. What does Andrew do from 1867 through 1872?

4. How is Pittsburgh important at this time?

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

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

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

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

9. Who are Roberto Goizuetta and Any Grove?

10. How does Andrew escape the textile mills?

(see the answer keys)

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