|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through The Obliteration of Capitalism.
Multiple Choice Questions
1. Money functions as a __________ in transactions.
(a) National linkage.
(b) Similar currency.
(c) Common denominator.
(d) Easy standard.
2. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) The capital market.
(b) An expansionist economic country.
(c) A high-interest-rate country.
(d) A stable economic country.
3. According to Rand, capitalism is based on what?
(a) Government interference.
(b) Open borders.
(c) Altruistic principles.
4. Governor Romney says we do not have a system of capitalism but of what?
5. What is the goal of the creation of the Federal Reserve System?
(a) To limit the amount of currency in circulation.
(b) To create a national savings account.
(c) To create a spending account for the military.
(d) To ease temporary reserve shortages.
Short Answer Questions
1. The existence of money allows people to avoid the problems of ______.
2. The existence of money promotes the division of what?
3. The government established by the Founding Fathers is based on theories that began with whom?
4. What, according to the author, does the gold standard facilitate?
5. To function as a medium of exchange, an item must be durable and what?
This section contains 202 words
(approx. 1 page at 300 words per page)