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. What does the author believe brought the world out of feudalism?
(a) Limited trade.
(b) Statism.
(c) The Industrial Revolution.
(d) Free trade.

2. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) An expansionist economic country.
(b) A high-interest-rate country.
(c) The capital market.
(d) A stable economic country.

3. What is the abbreviation for the Aluminum Company of America?
(b) ALCOA.
(c) ACOA.
(d) ALCA.

4. According to the author, what kind of governments use weapons against their own people?
(a) Republics.
(b) Dictatorships.
(c) Democracies.
(d) Communists.

5. What are the two most common metals used as a medium of exchange?
(a) Gold and tin.
(b) Gold and bronze.
(c) Gold and silver.
(d) Gold and iron.

Short Answer Questions

1. The author states that most wars are started by countries with what?

2. One cost of union negotiated wages, according to the author, is what?

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

4. The existence of money allows people to avoid the problems of ______.

5. How, according to the author, does the concept of private property come into existence?

(see the answer key)

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