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. The author compares statism to what kind of rule?
(a) Gang rule.
(b) Mob rule.
(c) Dictator rule.
(d) Elitist rule.

2. The author believes that capitalism cannot function with what?
(a) Slaves.
(b) Subservience.
(c) Individual rights.
(d) Uneducated workers.

3. How is man viewed in tribal European culture?
(a) As subjected to the will of the whole.
(b) As free of the whole.
(c) As part of the whole.
(d) As independent of the whole.

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

5. The existence of money allows people to avoid the problems of ______.
(a) Savings.
(b) Barter.
(c) Interest.
(d) Credit.

6. In a free market, economic power is determined by what?
(a) Inflation.
(b) Supply and demand.
(c) Price and wages.
(d) Surplus.

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

8. According to Rand, what must the individual be willing to do in a capitalist society?
(a) Sacrifice for the government.
(b) Sacrifice for the common good.
(c) Sacrifice for monopolies.
(d) Sacrifice for money.

9. The presence of regulation may make it harder to do what?
(a) Reward ethical behavior.
(b) Announce ethical behavior.
(c) Uncover unethical behavior.
(d) Hide unethical behavior.

10. What does the author believe is the basic tool of business?
(a) Labor.
(b) Land.
(c) Wages.
(d) Values.

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

12. The author believes that licensing the airwaves leads to what?
(a) Free speech.
(b) Protection of the consumer.
(c) Protection of the airwaves.
(d) Censorship.

13. What is the result of railroad subsidies by the government?
(a) Substandard construction.
(b) Well-done construction.
(c) Rapid construction.
(d) Massive construction.

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

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

Short Answer Questions

1. What do patents and copyright protect?

2. What is the goal of the creation of the Federal Reserve System?

3. What is another word for statism?

4. The author believes that, in statism, businessmen are what?

5. The author believes that antitrust laws are a _______ ________________ of history.

(see the answer keys)

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