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

Multiple Choice Questions

1. Who was the founder of Intel and Liz Claibourne?
(a) Hungarian Andy Grove.
(b) American Cuba Gooding, Jr.
(c) Indian Pooja Patel.
(d) Cuban Roberto Goizuetta.

2. Railroads need huge amounts of what to construct track and more as they expand?
(a) Capital.
(b) Trust.
(c) Equipment.
(d) Technological understanding.

3. From 1867 through 1872, Andrew Carnegie joins the expansion trend by manipulating what stock to promote $30 million in stocks and bonds in Europe?
(a) Pennsylvania Railroad and Western Union.
(b) Woodruff and Western Union.
(c) Union Pacific and Pennsylvania Railroad.
(d) Western Union and Union Pacific.

4. A new competitor, ________________ , decides a lavishly decorated "rolling palace" may have an edge, and by 1867 he has forty-eight in service.
(a) Gary M. Pullman.
(b) Gerold M. Pullman.
(c) George M. Pullman.
(d) Geoff M. Pullman.

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

6. Pennsylvania Railroad buys from the Woodruff venture and offers what when borrowing?
(a) The credibility of a "strong corporation."
(b) The credibility of a "big corporation."
(c) A great deal of collateral.
(d) A discount on shipping.

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

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

9. 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.

10. Andrew begins to see the railroad industry as an opportunity to regain what?
(a) The money his family has lost.
(b) The pride he thinks the Carnegies lost by emigrating.
(c) His sense of self.
(d) His understanding of business.

11. Scott sends Carnegie off to where as a bond salesman with good wishes, a bag of bonds and letters of reference for the St. Louis Bridge Company?
(a) Asia.
(b) Europe.
(c) Africa.
(d) California.

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

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

14. Railroad ______________ run the trains, maintain rolling stock and track, price and collect charges for service on passenger and freight trains running in both directions to meet demand.
(a) Stockholders.
(b) Executives.
(c) Managers.
(d) Employees.

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

Short Answer Questions

1. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.

2. Margaret Carnegie's sister precedes her move to America and Annie Aitken provides them what?

3. Scott and Thomson like the Woodruff Sleeping Car Company that owns patents in 1858 but lacks what?

4. Carnegie works ___________ years at the Pennsylvania Railroad while he develops managerial skill, economic principles and personal relationships to become a successful manager, capitalist and entrepreneur.

5. Carnegie rises from bobbin boy at __________ per week in 1850 to railroad superintendent at $2,400 per year in 1865.

(see the answer keys)

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