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. During the Industrial Revolution, where do many children find jobs?
(a) In factories.
(b) In stores.
(c) In restaurants.
(d) In homes.

2. The Aluminum Company of America is a monopoly in the sense that it has control over what?
(a) Its suppliers.
(b) Its sellers.
(c) Its independence.
(d) Its price.

3. What type of businessmen does the author feel are persecuted?
(a) Local businessmen.
(b) Foreign businessmen.
(c) American businessmen.
(d) Small businessmen.

4. What right does the government have that a private organization does not?
(a) The right to use force.
(b) The right to negotiate.
(c) The right to sue.
(d) The right to own property.

5. What is the name that the nobility, and the king, use to describe people who are considered property?
(a) Chargrin.
(b) Chartered.
(c) Chattel.
(d) Cattle.

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

7. One cost of union negotiated wages, according to the author, is what?
(a) Unemployment.
(b) Mobility of employment.
(c) Full employment.
(d) Investment in employment.

8. The Federal Reserve System was created when the government thought that what was happening?
(a) A shortage of interest reserves.
(b) A shortage of bank reserves.
(c) A depression.
(d) A recession.

9. According to Rand, capitalism is based on what?
(a) Government interference.
(b) Open borders.
(c) Self-motivation.
(d) Altruistic principles.

10. The first labor laws aimed at children are enacted in what year?
(a) 1798.
(b) 1808.
(c) 1818.
(d) 1788.

11. When does the gold standard cease to exist?
(a) At the beginning of World War I.
(b) At the end of World War I.
(c) At the end of World War II.
(d) At the beginning of World War II.

12. The bloodiest conflicts in history have been _______ _______.
(a) Local wars.
(b) Area wars.
(c) Civil wars.
(d) World wars.

13. Copyrights apply to what?
(a) Physical items.
(b) Medicines.
(c) Actual locations.
(d) Ideas.

14. Instead of reading the antitrust laws to decide if something is legal, people must read what?
(a) Supreme Court decisions.
(b) Delaware corporations code.
(c) Case law.
(d) History.

15. Who is the author of the "Gold and Economic Freedom" chapter?
(a) Richard Fullerton.
(b) Marcus Bludger.
(c) Alan Greenspan.
(d) Theodore Huffington.

Short Answer Questions

1. Branden says that, according to the statists, depressions are part of what?

2. What does the author believe is the basic tool of the bureaucrat?

3. According to the author, what will cure economic problems quickest and best?

4. What helps pull the U.S. out of the Great Depression?

5. The government established by the Founding Fathers is based on theories that began with whom?

(see the answer keys)

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