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

Multiple Choice Questions

1. 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.
(a) Steel.
(b) Gold.
(c) Iron.
(d) Bronze.

2. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.
(a) 30.
(b) 40.
(c) 20.
(d) 50.

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

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

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

6. Carnegie and his triumvirate get a franchise from Pennsylvania Railroad with the benefits of existing poles and franchising from Trenton through to what?
(a) The Missouri state line.
(b) The Illinois state line.
(c) The Indiana state line.
(d) The Ohio state line.

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) A hiring process.
(d) Benefits for workers.

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

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

10. He forms an informal investing ____________ with Thomson and Scott.
(a) Quadrumvirate.
(b) Quintumvirate.
(c) Duumvirate.
(d) Triumvirate.

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

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

13. Carnegie meets railroad's ____________ and initiates control of division operations when needed.
(a) Executives.
(b) Managers.
(c) Critics.
(d) Customers.

14. What does Andrew dislike about the oil business that seems beyond control of management until the 1880s and Rockefeller?
(a) The fluctuation of price.
(b) The instability of the economy.
(c) The smell, messiness and waste.
(d) The destructive properties of oil.

15. Scott and Thomson like the Woodruff Sleeping Car Company that owns patents in 1858 but lacks what?
(a) Intelligence.
(b) The courage and business sense to develop them.
(c) Financial backing.
(d) Understanding of this business.

Short Answer Questions

1. With whom does Carnegie form Columbia Oil Company?

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

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

4. _____________ is the focal point that straddles the east-west route where the Monongahela and Allegheny rivers join at the Ohio River.

5. By the age of __________ Carnegie manages a complex, multi-unit industrial enterprise and capitalizes on knowing the value of money based on what it can earn.

(see the answer keys)

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