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) An expansionist economic country.
(b) The capital market.
(c) A stable economic country.
(d) A high-interest-rate country.

2. To function as a medium of exchange, an item must be durable and what?
(a) Plentiful.
(b) Scarce.
(c) Common.
(d) Sturdy.

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

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

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

Short Answer Questions

1. The Federal Reserve System was created when the government thought that what was happening?

2. Among those countries of the world that have had fascist dictatorships, a favorable opinion of _______ is found.

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

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

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

(see the answer key)

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