|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through The Obliteration of Capitalism.
Multiple Choice Questions
1. What kind of rights, according to the author, is the American system of government based on?
(a) Individual rights.
(b) Minority rights.
(c) Majority rights.
(d) Power rights.
2. Governor Romney says we do not have a system of capitalism but of what?
3. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) The capital market.
(b) A stable economic country.
(c) A high-interest-rate country.
(d) An expansionist economic country.
4. What are the two most common metals used as a medium of exchange?
(a) Gold and bronze.
(b) Gold and iron.
(c) Gold and tin.
(d) Gold and silver.
5. The Federal Reserve System was created when the government thought that what was happening?
(a) A recession.
(b) A shortage of bank reserves.
(c) A shortage of interest reserves.
(d) A depression.
Short Answer Questions
1. According to Rand, capitalism is based on what?
2. According to the author, many less-developed countries feel ______ by capitalism.
3. What is one function of money?
4. When does the gold standard cease to exist?
5. The author believes that capitalism cannot function with what?
This section contains 224 words
(approx. 1 page at 300 words per page)