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. According to the author, what kind of governments use weapons against their own people?
(a) Communists.
(b) Democracies.
(c) Republics.
(d) Dictatorships.

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

3. The bloodiest conflicts in history have been _______ _______.
(a) Area wars.
(b) Local wars.
(c) World wars.
(d) Civil wars.

4. The author believes that as long as capital can flow freely, it will flow where?
(a) To the situation that is best for mankind.
(b) To where it earns the highest rate of return.
(c) To where it is needed the most.
(d) To the situation that is best for society.

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

Short Answer Questions

1. The results of intellectual property may be ______, but the intellectual property itself may not be.

2. According to the author, what is the cause of the Great Depression?

3. During the Industrial Revolution, where do many children find jobs?

4. The author believes that capitalism cannot function with what?

5. What is the goal of the creation of the Federal Reserve System?

Short Essay Questions

1. What role do land grants play in railroad construction?

2. How does the existence of money help people?

3. What is the gold standard?

4. What are patents and copyrights?

5. What do the peace proponents believe about force?

6. What do the businessmen take the blame for in the case of the Central Pacific Railroad?

7. How is intellectual property different than physical property?

8. How would the consumer be protected in a true capitalist market?

9. How does gold flow through the international system?

10. What is a coercive monopoly?

(see the answer keys)

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