Capitalism, the Unknown Ideal Test | Mid-Book Test - Easy

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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What kind of rights, according to the author, is the American system of government based on?
(a) Minority rights.
(b) Majority rights.
(c) Power rights.
(d) Individual rights.

2. When there are _____ ______, firms with good reputations are treated exactly like firms with bad reputations.
(a) Quality control.
(b) Customer services.
(c) Government regulations.
(d) Market incentives.

3. What does the term "evils of monopoly" refer to?
(a) Corrupt monopoly.
(b) Coevasive monopoly.
(c) Corrosive monopoly.
(d) Coercive monopoly.

4. The most successful railroads, according to the author, do what?
(a) Never receive financial aid from the government.
(b) Repay their financial aid from the government.
(c) Allow the government to completely fund the projects.
(d) Take a lot of financial aid from the government.

5. A fear of _______ leads to the passage of the first antitrust laws.
(a) Conglomerates.
(b) Monopolies.
(c) Trusts.
(d) Oligarchies.

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

7. Who writes the chapter entitled "The Effects of the industrial Revolution on Women and Children"?
(a) Robert Hessen.
(b) Robert Fulgrough.
(c) Robert Gallegar.
(d) Robert Lackser.

8. What does the author believe is the basic tool of the bureaucrat?
(a) Loathing.
(b) Disrespect.
(c) Fear.
(d) Immorality.

9. Who does Algeria fight for independence?
(a) Spain.
(b) Germany.
(c) Britain.
(d) France.

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

11. What is one example, according to the author, of how property rights can be established?
(a) The Gold Rush Act.
(b) The Settlement Act.
(c) The Western Settlers Act.
(d) The Homestead Act.

12. What right does the author believe is basic to the concept of freedom?
(a) Property rights.
(b) Human rights.
(c) Self-governance rights.
(d) Familial rights.

13. What is one function of money?
(a) A means of processing.
(b) A means of wealth.
(c) A means of accounting.
(d) A means of saving.

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

15. What does Greenspan claim is the best protection for the consumer?
(a) Independent agencies.
(b) A controlled economy.
(c) The profits of businessmen.
(d) Government regulation.

Short Answer Questions

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

2. Who are against war and the threat of nuclear weapons, according to the author?

3. How is man viewed in tribal European culture?

4. According to the author, what is the cause of the Great Depression?

5. The author feels that the only way to make the industry responsive to the market is to make the airwaves what?

(see the answer keys)

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