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

Multiple Choice Questions

1. The business is _______________ with conductors and station agents collecting millions in small coin revenue.
(a) Penny and dime."
(b) "Nickel and dime."
(c) "Penny and nickel."
(d) Dime and quarter."

2. Andrew succeeds in the mastery of what business techniques?
(a) Old World.
(b) New World.
(c) His friend's.
(d) His parent's.

3. 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) Africa.
(b) California.
(c) Europe.
(d) Asia.

4. Coleman wants to raise the price of oil by doing what?
(a) Raising his own salary.
(b) Raising the cost of shipping.
(c) Raising his workers' salaries.
(d) Hoarding supply.

5. Who is the cornerstone of Carnegie's fortune, followed in 1861 by Columbia Oil?
(a) Pullman.
(b) Pennsylvania Railroad.
(c) Woodruff.
(d) Coleman.

6. Success is due to the first president, ________________, and the superintendent of the western division, Tom Scott, who brings Andrew Carnegie into the modern system of train control.
(a) J. Edgar Smith.
(b) J. Edgar Thomson.
(c) J. Edgar Hoover.
(d) J. Edgar Johnson.

7. The size and complexity of a railroad business requires creation of bureaucratic organization, structure, and what else?
(a) A union.
(b) Policy to fit the needs.
(c) Benefits for workers.
(d) A hiring process.

8. 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) Union Pacific and Pennsylvania Railroad.
(b) Pennsylvania Railroad and Western Union.
(c) Western Union and Union Pacific.
(d) Woodruff and Western Union.

9. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?
(a) His connections.
(b) The money of others.
(c) Any of his own money.
(d) Manipulation.

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

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

12. Within _______ years of arriving in America, the Carnegies recoup their fortune through the help of their friends, relatives, and countrymen in America and earn more income that they ever received in Scotland.
(a) Two.
(b) Six.
(c) Four.
(d) Eight.

13. 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?
(a) Hundreds.
(b) Tens of thousands.
(c) Tens of billions.
(d) Tens of millions.

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

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

Short Answer Questions

1. It is _______________ private business firm in the world and is called "the standard railroad of the world."

2. In _________, the transcontinental Union Pacific seeks bids from sleeping car companies for its expansion.

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

4. Carnegie proposes they cooperate rather than bid against each other and suggests what be the joint venture?

5. In following years Carnegie gets at least ___________ for a net investment of $217.50 until 1870 when he sells out.

(see the answer keys)

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