|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The subjectivist theory.
(b) The implication theory.
(c) The adherence theory.
(d) The intrinsic theory.
2. The existence of money allows people to avoid the problems of ______.
3. Intellectual property may end up in the public _____ but it does not become public property.
4. How long do copyrights last in the United Kingdom?
(a) The life of the originator plus 25 years.
(b) The life of the originator plus 50 years.
(c) The life of the originator plus 100 years.
(d) The life of the originator plus 75 years.
5. The most successful railroads, according to the author, do what?
(a) Repay their financial aid from the government.
(b) Take a lot of financial aid from the government.
(c) Allow the government to completely fund the projects.
(d) Never receive financial aid from the government.
6. According to the author, what kind of governments use weapons against their own people?
7. Government regulations tend to be _______, meaning that they dictate a minimum standard of what cannot be done.
8. Branden says that, according to the statists, depressions are part of what?
(a) Government-controlled systems.
(b) Free-market enterprises.
(c) Economic cycles.
(d) Laissez-faire capitalism.
9. The author states that most wars are started by countries with what?
(a) Restricted economies.
(b) Fair trade.
(c) Controlled economies.
(d) Restrained trade.
10. What kind of rights, according to the author, is the American system of government based on?
(a) Individual rights.
(b) Power rights.
(c) Minority rights.
(d) Majority rights.
11. What right does the author believe is basic to the concept of freedom?
(a) Self-governance rights.
(b) Property rights.
(c) Familial rights.
(d) Human rights.
12. Who are against war and the threat of nuclear weapons, according to the author?
(a) Entire populations.
(d) Peace proponents.
13. The author believes that antitrust laws are a _______ ________________ of history.
(a) Failed experiement.
(b) Gross misinterpretation.
(c) Factual representation.
(d) Twisted understanding.
14. What does the author blame for crises and depressions in capitalism?
(a) Allocation of resources.
(b) Cyclical economies.
(c) Government interference.
(d) Bad choices.
15. How, according to the author, does the concept of private property come into existence?
(a) With capitalism.
(b) Through the Cultural Revolution.
(c) From Karl Marx.
(d) During feudalism.
Short Answer Questions
1. What does the author believe brought the world out of feudalism?
2. What do political economists assume that man is working for?
3. According to the author, statism is often linked to what other "ism"?
4. What is the abbreviation for the Aluminum Company of America?
5. According to the author, what will cure economic problems quickest and best?
This section contains 448 words
(approx. 2 pages at 300 words per page)