Capitalism, the Unknown Ideal Quiz | Eight Week Quiz A

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This quiz consists of 5 multiple choice and 5 short answer questions through Antitrust.

Multiple Choice Questions

1. Antitrust laws are written in the popular belief that if businesses were left free, what would result?
(a) Diminshed power.
(b) Excessive power.
(c) Absolute power.
(d) Arbitrary power.

2. What does the author believe is the basic tool of business?
(a) Values.
(b) Wages.
(c) Labor.
(d) Land.

3. What thrives on free trade, according to the author?
(a) Capitalism.
(b) Parliamentary systems.
(c) Liberty.
(d) Democracy.

4. What do political economists assume that man is working for?
(a) The good of his family.
(b) The betterment of his situation.
(c) The good of society.
(d) The betterment of himelf.

5. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The intrinsic theory.
(b) The subjectivist theory.
(c) The implication theory.
(d) The adherence theory.

Short Answer Questions

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

2. Who does the author say would earn more money than Einstein?

3. Instead of reading the antitrust laws to decide if something is legal, people must read what?

4. What right does the author believe is basic to the concept of freedom?

5. What is the first antitrust legislation?

(see the answer key)

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