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. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) A high-interest-rate country.
(b) The capital market.
(c) An expansionist economic country.
(d) A stable economic country.

2. The Federal Reserve System was created when the government thought that what was happening?
(a) A shortage of bank reserves.
(b) A depression.
(c) A recession.
(d) A shortage of interest reserves.

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

4. What kind of rights, according to the author, is the American system of government based on?
(a) Power rights.
(b) Individual rights.
(c) Majority rights.
(d) Minority rights.

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

Short Answer Questions

1. According to the author, many less-developed countries feel ______ by capitalism.

2. Who does Algeria fight for independence?

3. What is one function of money?

4. According to Rand, capitalism is based on what?

5. The government established by the Founding Fathers is based on theories that began with whom?

(see the answer key)

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