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. Who is J.J. Hill?
(a) A businessman.
(b) A government official.
(c) A developer.
(d) A government regulator.

2. To function as a medium of exchange, an item must be durable and what?
(a) Common.
(b) Plentiful.
(c) Scarce.
(d) Sturdy.

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

4. Branden says that, according to the statists, depressions are part of what?
(a) Free-market enterprises.
(b) Laissez-faire capitalism.
(c) Economic cycles.
(d) Government-controlled systems.

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

6. What thrives on free trade, according to the author?
(a) Parliamentary systems.
(b) Capitalism.
(c) Liberty.
(d) Democracy.

7. How long do copyrights last in the United Kingdom?
(a) The life of the originator plus 50 years.
(b) The life of the originator plus 100 years.
(c) The life of the originator plus 75 years.
(d) The life of the originator plus 25 years.

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

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

10. The first labor laws aimed at children target those working as what?
(a) Chimney sweeps.
(b) Cleaners.
(c) Cooks and servers.
(d) Factory help.

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

12. According to the author, what kind of governments use weapons against their own people?
(a) Dictatorships.
(b) Democracies.
(c) Republics.
(d) Communists.

13. How many keystones are there to capitalism?
(a) Seven.
(b) Five.
(c) Four.
(d) Six .

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

15. How does the author think the U.S. government does with creating property rights in airwaves?
(a) The author feels the government does a good job.
(b) The author feels the government fails.
(c) The author feels the government needs to modify its approach.
(d) The author feels the government succeeds.

Short Answer Questions

1. Antitrust laws are written in the popular belief that if businesses were left free, what would result?

2. The Federal Reserve System was created when the government thought that what was happening?

3. What kind of rights, according to the author, is the American system of government based on?

4. What is the abbreviation for the Aluminum Company of America?

5. What does the term "evils of monopoly" refer to?

(see the answer keys)

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