Capitalism, the Unknown Ideal Quiz | Eight Week Quiz B

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This quiz consists of 5 multiple choice and 5 short answer questions through Gold and Economic Freedom.

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) A stable economic country.
(c) The capital market.
(d) An expansionist economic country.

2. Who are against war and the threat of nuclear weapons, according to the author?
(a) Governments.
(b) Peace proponents.
(c) Entire populations.
(d) Activists.

3. The power of the railroads, according to the author, comes from where?
(a) The economy.
(b) The market.
(c) The subsidies.
(d) The government.

4. According to the author, what is the cause of the Great Depression?
(a) Communism.
(b) Capitalism.
(c) Isolationist policies.
(d) Government intervention.

5. According to the author, what will cure economic problems quickest and best?
(a) The economy.
(b) Government.
(c) Restrictions of trade.
(d) Protectionism.

Short Answer Questions

1. The term "evils of monopoly" refers to a situation in which the monopolist is completely ______ of the market.

2. What is the goal of the creation of the Federal Reserve System?

3. According to classical economics, what is the basis of competition?

4. What is another word for statism?

5. The Aluminum Company of America holds a position as the only producer of what?

(see the answer key)

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