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

2. The author says the Industrial Revolution would never occur under what?
(a) Communism.
(b) A planned economy.
(c) A restrained-trade economy.
(d) Statism.

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

4. Who does Algeria fight for independence?
(a) Britain.
(b) France.
(c) Spain.
(d) Germany.

5. A fear of _______ leads to the passage of the first antitrust laws.
(a) Oligarchies.
(b) Monopolies.
(c) Trusts.
(d) Conglomerates.

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

7. What is trade without any barriers known as?
(a) Capitalist trade.
(b) Limited trade.
(c) Free trade.
(d) Expansionist trade.

8. The author states that most wars are started by countries with what?
(a) Restrained trade.
(b) Controlled economies.
(c) Restricted economies.
(d) Fair trade.

9. According to the author, what is the cause of the Great Depression?
(a) Capitalism.
(b) Government intervention.
(c) Communism.
(d) Isolationist policies.

10. Who does the author say would earn more money than Einstein?
(a) Elvis Presley.
(b) Donna Mae.
(c) Doris Day.
(d) Karl Marx.

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

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

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

14. What is the position held by the man who brings the airwaves under U.S. government control?
(a) Secretary of the Interior.
(b) Secretary of Industry.
(c) Secretary of Commerce.
(d) Secretary of State.

15. How are the railroads subsidized?
(a) Research-and-development deductions.
(b) Land grants.
(c) Tax deductions.
(d) Payments.

Short Answer Questions

1. Who is the author of the antitrust chapter?

2. When does the gold standard cease to exist?

3. What type of businessmen does the author feel are persecuted?

4. Who brings the airwaves under U.S. government control?

5. What does statism survive on, according to the author?

(see the answer keys)

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