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

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

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

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

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

Short Answer Questions

1. What right does the author believe is basic to the concept of freedom?

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

3. According to Rand, what must the individual be willing to do in a capitalist society?

4. According to classical economics, what is the basis of competition?

5. What does the term "evils of monopoly" refer to?

Short Essay Questions

1. What are the first labor laws concerning children about?

2. What do Republicans and Democrats claim about their side in the fight to save civilization?

3. What is idealistic hypocrisy, according to Brown?

4. What meaning does the author give to the idea that public interest supersedes private interests and rights?

5. How do most political economists approach their study of man?

6. What does the existence of the draft mean for countries and politicians?

7. What brings about an intellectual movement's collapse?

8. When do countries not engage in wars?

9. From what belief do foreign-aid programs stem?

10. How does gold flow through the international system?

(see the answer keys)

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