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 existence of money allows people to avoid the problems of ______.
(a) Interest.
(b) Savings.
(c) Credit.
(d) Barter.

2. According to Rand, capitalism is based on what?
(a) Government interference.
(b) Open borders.
(c) Altruistic principles.
(d) Self-motivation.

3. When the investors realize they have a problem and they all try to get out of the market, what results?
(a) Panic buying.
(b) Staying put.
(c) Panic selling.
(d) Pulling capital.

4. What does the term "evils of monopoly" refer to?
(a) Coercive monopoly.
(b) Corrupt monopoly.
(c) Coevasive monopoly.
(d) Corrosive monopoly.

5. The power of the railroads, according to the author, comes from where?
(a) The government.
(b) The economy.
(c) The market.
(d) The subsidies.

Short Answer Questions

1. Money functions as a __________ in transactions.

2. The existence of money promotes the division of what?

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

4. A fear of _______ leads to the passage of the first antitrust laws.

5. The bloodiest conflicts in history have been _______ _______.

Short Essay Questions

1. How does Alan Greenspan describe a business world with antitrust laws?

2. What does the author believe about the disintegration of philosophy?

3. What problems do the airwaves run into in the beginning of radio?

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

5. How does government involvement help cause the Great Depression?

6. According to the author, how is science collapsing?

7. How are some of the railroads not responsive to the market?

8. What should the governments of free countries protect?

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

10. What is the Homestead Act?

(see the answer keys)

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