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) Mob rule.
(b) Gang rule.
(c) Dictator rule.
(d) Elitist rule.

2. What are the two most common metals used as a medium of exchange?
(a) Gold and bronze.
(b) Gold and silver.
(c) Gold and tin.
(d) Gold and iron.

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

4. During the Industrial Revolution, how do women earn income?
(a) In the brothels.
(b) In the streets.
(c) In the factories.
(d) By working from home.

5. What does the author blame for crises and depressions in capitalism?
(a) Bad choices.
(b) Government interference.
(c) Cyclical economies.
(d) Allocation of resources.

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

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

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

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

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

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

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

13. What helps pull the U.S. out of the Great Depression?
(a) An economic expansion.
(b) World War II.
(c) The New Deal.
(d) Free trade.

14. Which British civil servant says the U.S. antitrust laws cannot be understood?
(a) A.D. Foster.
(b) A.D. Brookings.
(c) A.D. Neale.
(d) A.D. Gershwin.

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

Short Answer Questions

1. What is one of the negatives that political power uses?

2. Patents apply to what?

3. What does political economy study?

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

5. How are the railroads subsidized?

(see the answer keys)

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