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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. In 1856, Scott advises him to buy what company as his first stock investment?

2. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.

3. Carnegie's first installment on his one-eighth interest in Woodruff is $217.50 borrowed from the bank. The balance is paid by dividends in the venture's ________ year.

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

5. Carnegie meets railroad's ____________ and initiates control of division operations when needed.

Short Essay Questions

1. How do family members and friends help immigrants? How is Carnegie's family helped?

2. Describe the Columbia Oil Company.

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

4. What does Carnegie learn at the Pennsylvania Railroad?

5. By what is this dream not diminished?

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

7. Describe Carnegie's investment in Keystone Bridge Company.

8. What happens on July 15, 1848?

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

10. What does Andrew do from 1867 through 1872?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Andrew Carnegie emigrated from Scotland.

Part 1) When and why did he emigrate from Scotland? Describe his life upon arriving in the U.S. How did it compare to the lives of other immigrants?

Part 2) How did his family adjust to life in America? How did this affect Andrew? When did he get the opportunity for advancement? How was this a case of being in the right place at the right time?

Part 3) What might it be like to be an immigrant today? Might it be easier or harder to adjust to American life? Explain.

Essay Topic 2

The Panic of 1873 is significant.

Part 1) Describe the Panic of 1873. How does it begin? How are businesses and ordinary citizens affected by it? How does the country pull out of this panic? How does this panic compare to the 1929 Crash and the Great Depression that followed?

Part 2) Could this panic have been avoided? If so, how? If not, why not? Did the country learn from this panic? Why or why not?

Part 3) Could a panic such as this occur again? Why or why not? Have we as a country learned anything from this panic, the Crash of 1929, and other economic disasters? Explain.

Essay Topic 3

Andrew escapes the coal and oil of textile mills.

Part 1) How does he escape? To where does he escape? How does he benefit from this? How do his experiences in these mills influence him?

Part 2) How important are his early careers to his life as a capitalist and then as entrepreneur? How does he use the knowledge he gains throughout his life in his career decisions? How does he benefit from doing this?

Part 3) How might your own work experiences influence you as an adult in the work force? What experiences have already occurred in your life that will be beneficial in the future?

(see the answer keys)

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