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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Carnegie promotes expanding with other Pennsylvania-controlled franchises through Scott and assures construction in his contracting business by bartering Pacific stock for construction costs with ___________ exchange rates.
(a) 5 and 7 to one.
(b) 3 and 4 to one.
(c) 3 and 5 to one.
(d) 2 and 4 to one.

2. Carnegie rises from bobbin boy at __________ per week in 1850 to railroad superintendent at $2,400 per year in 1865.
(a) $0.12.
(b) $120.00
(c) $12.00.
(d) $1.20.

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

4. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.
(a) 1862.
(b) 1852.
(c) 1858.
(d) 1868.

5. What characterizes America?
(a) The "American dream."
(b) The "American willpower."
(c) The "American pride."
(d) The "American car."

6. Carnegie uses a similar strategy to exit the Woodruff Company by reorganizing it into ________________ with new stockholders and the triumvirate unstated.
(a) The Central Transportation Company.
(b) The Union Transport Company.
(c) The Cross Continental Company.
(d) The Atlantic Pacific Company.

7. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.
(a) $40.
(b) $10.
(c) $20.
(d) $80.

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

9. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?
(a) Customer interest.
(b) Train repairs.
(c) Customer movement.
(d) Train movement.

10. In _________, the transcontinental Union Pacific seeks bids from sleeping car companies for its expansion.
(a) 1857.
(b) 1877.
(c) 1867.
(d) 1864.

11. Carnegie becomes an expert in Pittsburgh's _____________ business.
(a) Mining.
(b) Manufacturing.
(c) Commercial.
(d) Financial.

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

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

14. Business transactions at the time take place over what type of communication?
(a) Internet.
(b) Telephone.
(c) Telegraphic.
(d) Letter.

15. When his father dies in 1855, Andrew calls him what?
(a) An embarrassment.
(b) A man of the world.
(c) A man not of the world.
(d) A loser.

Short Answer Questions

1. Carnegie sells Central patents for ____________ to Pullman and they exchange shares for no money to form the new company.

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

4. Will is unable to catch on to new opportunities and reverts back to weaving and selling his wares on the street, which does what?

5. Carnegie meets John Piper in 1856 in order to build _______ bridges, instead of wooden bridges that can be set afire from locomotive sparks and are not cost-effective beyond a certain span and load factor.

(see the answer keys)

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