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. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The subjectivist theory.
(b) The implication theory.
(c) The intrinsic theory.
(d) The adherence theory.

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

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

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

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

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

7. Who is the author of this book?
(a) Anna Rand.
(b) Alena Rand.
(c) Annabelle Rand.
(d) Ayn Rand.

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

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

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

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

12. Railroads are built using government money, and what happens to many of them?
(a) They go bankrupt.
(b) They repay the investors.
(c) They abuse their workers.
(d) They prosper.

13. Who brings the airwaves under U.S. government control?
(a) Eisenhower.
(b) FDR.
(c) Grossman.
(d) Herbert Hoover.

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

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

Short Answer Questions

1. What are the two most common metals used as a medium of exchange?

2. The author believes that as long as capital can flow freely, it will flow where?

3. Patents apply to what?

4. What is the first antitrust legislation?

5. To function as a medium of exchange, an item must be durable and what?

(see the answer keys)

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