Capitalism, the Unknown Ideal Quiz | Eight Week Quiz C

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This quiz consists of 5 multiple choice and 5 short answer questions through The Assault on Integrity.

Multiple Choice Questions

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

2. According to classical economics, what is the basis of competition?
(a) Producing and selling in a regulated system.
(b) Producing and selling for profit.
(c) Producing and selling in a down market.
(d) Producing and selling as much as possible.

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

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

5. One cost of union negotiated wages, according to the author, is what?
(a) Full employment.
(b) Investment in employment.
(c) Mobility of employment.
(d) Unemployment.

Short Answer Questions

1. The author says the Industrial Revolution would never occur under what?

2. What does the author blame for crises and depressions in capitalism?

3. Who is J.J. Hill?

4. The presence of regulation may make it harder to do what?

5. Money functions as a __________ in transactions.

(see the answer key)

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