Capitalism, the Unknown Ideal Quiz | Four Week Quiz A

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This quiz consists of 5 multiple choice and 5 short answer questions through Notes on the History of American Free Enterprise.

Multiple Choice Questions

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

2. The Aluminum Company of America is a monopoly in the sense that it has control over what?
(a) Its suppliers.
(b) Its price.
(c) Its sellers.
(d) Its independence.

3. What is the goal of the creation of the Federal Reserve System?
(a) To create a national savings account.
(b) To ease temporary reserve shortages.
(c) To create a spending account for the military.
(d) To limit the amount of currency in circulation.

4. The bloodiest conflicts in history have been _______ _______.
(a) World wars.
(b) Area wars.
(c) Local wars.
(d) Civil wars.

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

Short Answer Questions

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

2. What does the author believe is the basic tool of the bureaucrat?

3. According to the author, statism is often linked to what other "ism"?

4. Who is the author of the "Gold and Economic Freedom" chapter?

5. What does the author believe brought the world out of feudalism?

(see the answer key)

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