Capitalism, the Unknown Ideal Quiz | Eight Week Quiz D

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

Multiple Choice Questions

1. The author believes that businessmen take the blame for what?
(a) Recessions.
(b) Government actions.
(c) Depressions.
(d) Capitalism.

2. What is the first antitrust legislation?
(a) The Taft Act.
(b) The Sherman Act.
(c) The Humphry Act.
(d) The Trump Act.

3. What does statism survive on, according to the author?
(a) War.
(b) Trade.
(c) Peace.
(d) Expansion.

4. What subject does Stewart Holbrook write about?
(a) Government assistance to the railroads.
(b) Failure of the railroads.
(c) Corruption in the railroads.
(d) Railroad monopolies.

5. What does political economy study?
(a) How scarce resources are used.
(b) How economic resources are used.
(c) How capital resources are used.
(d) How all resources are used.

Short Answer Questions

1. Railroads are built using government money, and what happens to many of them?

2. What do patents and copyright protect?

3. To function as a medium of exchange, an item must be durable and what?

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

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

(see the answer key)

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