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. How are the railroads subsidized?
(a) Research-and-development deductions.
(b) Payments.
(c) Land grants.
(d) Tax deductions.

2. The author feels that the only way to make the industry responsive to the market is to make the airwaves what?
(a) Bought and sold.
(b) Private property.
(c) Free.
(d) Industry-controlled.

3. What does the author believe brought the world out of feudalism?
(a) Statism.
(b) Free trade.
(c) Limited trade.
(d) The Industrial Revolution.

4. What type of businessmen does the author feel are persecuted?
(a) Small businessmen.
(b) Local businessmen.
(c) American businessmen.
(d) Foreign businessmen.

5. The author compares statism to what kind of rule?
(a) Mob rule.
(b) Dictator rule.
(c) Elitist rule.
(d) Gang rule.

Short Answer Questions

1. What does the author believe is the basic tool of business?

2. What helps pull the U.S. out of the Great Depression?

3. What is the name that the nobility, and the king, use to describe people who are considered property?

4. According to Rand, capitalism is based on what?

5. When there is protection of the consumer by the government, it lessens the efforts of the firm to provide protection through ________.

Short Essay Questions

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

2. What does Branden believe causes depressions?

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

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

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

6. What is the study of political economy?

7. What are the first labor laws concerning factories about?

8. How does the existence of money help people?

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

10. What is the gold standard?

(see the answer keys)

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