Capitalism, the Unknown Ideal Quiz | One Week Quiz A

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This quiz consists of 5 multiple choice and 5 short answer questions through The Obliteration of Capitalism.

Multiple Choice Questions

1. What, according to the author, does the gold standard facilitate?
(a) Trade and production.
(b) Growth and sales.
(c) Production and sales.
(d) Trade and growth.

2. What are the two most common metals used as a medium of exchange?
(a) Gold and iron.
(b) Gold and bronze.
(c) Gold and silver.
(d) Gold and tin.

3. Money functions as a __________ in transactions.
(a) National linkage.
(b) Common denominator.
(c) Easy standard.
(d) Similar currency.

4. The existence of money allows people to avoid the problems of ______.
(a) Barter.
(b) Interest.
(c) Credit.
(d) Savings.

5. According to Rand, capitalism is based on what?
(a) Altruistic principles.
(b) Government interference.
(c) Open borders.
(d) Self-motivation.

Short Answer Questions

1. One of the tactics of this group is to paint capitalism as evil.

2. In a gold-standard system, gold will flow from a low-interest-rate country to where?

3. Who does Algeria fight for independence?

4. The existence of money promotes the division of what?

5. In the U.S., the economic system isn't a pure capitalist system but is what?

(see the answer key)

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