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

2. How, according to the author, does the concept of private property come into existence?
(a) From Karl Marx.
(b) Through the Cultural Revolution.
(c) With capitalism.
(d) During feudalism.

3. The author believes that unions serve a valuable service because they do what?
(a) Represent the worker to the employer.
(b) Raise the cost of production.
(c) Prevent the employer from firing the worker.
(d) Raise the benefits to the worker.

4. What is the goal of the creation of the Federal Reserve System?
(a) To create a spending account for the military.
(b) To limit the amount of currency in circulation.
(c) To ease temporary reserve shortages.
(d) To create a national savings account.

5. The author believes that as long as capital can flow freely, it will flow where?
(a) To where it earns the highest rate of return.
(b) To the situation that is best for mankind.
(c) To the situation that is best for society.
(d) To where it is needed the most.

Short Answer Questions

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

2. The author believes that licensing the airwaves leads to what?

3. When the investors realize they have a problem and they all try to get out of the market, what results?

4. During the Industrial Revolution, how do women earn income?

5. What is the position held by the man who brings the airwaves under U.S. government control?

(see the answer key)

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