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

Multiple Choice Questions

1. The Aluminum Company of America holds a position as the only producer of what?
(a) Tin-aluminum.
(b) Aluminum alloy.
(c) Secondary aluminum.
(d) Primary aluminum.

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

3. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The implication theory.
(b) The adherence theory.
(c) The intrinsic theory.
(d) The subjectivist theory.

4. The existence of money promotes the division of what?
(a) Specialties.
(b) Labor.
(c) Social classes.
(d) Economic classes.

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.

6. What is another word for statism?
(a) Collectivism.
(b) Concernism.
(c) Connectivism.
(d) Communism.

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

8. According to the author, statism is often linked to what other "ism"?
(a) Conservatism.
(b) Militarism.
(c) Republicanism.
(d) Liberalism.

9. According to the author, in statism, who owns the members of the tribe?
(a) The elite.
(b) The elders.
(c) The tribe.
(d) The masses.

10. How long do copyrights last in the United Kingdom?
(a) The life of the originator plus 75 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 25 years.

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

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

13. Money functions as a __________ in transactions.
(a) National linkage.
(b) Easy standard.
(c) Common denominator.
(d) Similar currency.

14. What is one of the negatives that political power uses?
(a) Restrictions.
(b) Threat of imprisonment.
(c) Taxes.
(d) Regulation.

15. The author feels that the only way to make the industry responsive to the market is to make the airwaves what?
(a) Private property.
(b) Bought and sold.
(c) Free.
(d) Industry-controlled.

Short Answer Questions

1. Who writes the chapter entitled "The Effects of the industrial Revolution on Women and Children"?

2. Patents apply to what?

3. What right does the government have that a private organization does not?

4. What is one of the keystones of capitalism?

5. What is the first antitrust legislation?

(see the answer keys)

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