Capitalism, the Unknown Ideal Test | Mid-Book Test - Medium

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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. The results of intellectual property may be ______, but the intellectual property itself may not be.
(a) Discovered.
(b) Transferred.
(c) Retained.
(d) Reclaimed.

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

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

4. The author believes that, in statism, businessmen are what?
(a) The elite.
(b) The scapegoats.
(c) The politicians.
(d) The taxpayers.

5. Competition, according to the author, is regulated by what market?
(a) Stock market.
(b) Capital market.
(c) Securities market.
(d) Growth market.

Short Answer Questions

1. In a gold-standard system, gold will flow from a low-interest-rate country to where?

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

3. The Aluminum Company of America holds a position as the only producer of what?

4. The Federal Reserve System was created when the government thought that what was happening?

5. How many keystones are there to capitalism?

Short Essay Questions

1. What is the theme of "Atlas Shrugged"?

2. What does capitalism do to the standard of living?

3. What does the pope's encyclical say motivates capitalism?

4. How is intellectual property different than physical property?

5. Why do capital markets affect prices?

6. What does A.D. Neale think about U.S. antitrust laws?

7. What does Branden believe causes depressions?

8. What is the concept of man that underlies statism?

9. Why, according to the author, do many less-developed countries hate the U.S.?

10. What is the study of political economy?

(see the answer keys)

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