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. Money functions as a __________ in transactions.
(a) Common denominator.
(b) Easy standard.
(c) Similar currency.
(d) National linkage.

2. How many keystones are there to capitalism?
(a) Seven.
(b) Six .
(c) Four.
(d) Five.

3. What chapter does Nathaniel Branden write?
(a) "Common Fallacies About Capitalism."
(b) "Common Truths About Capitalism."
(c) "Antitrust."
(d) "Monopolies and Trade."

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

5. The presence of regulation may make it harder to do what?
(a) Announce ethical behavior.
(b) Uncover unethical behavior.
(c) Reward ethical behavior.
(d) Hide unethical behavior.

Short Answer Questions

1. What do patents and copyright protect?

2. The author believes that, in statism, businessmen are what?

3. The term "evils of monopoly" refers to a situation in which the monopolist is completely ______ of the market.

4. How long do copyrights last in the United Kingdom?

5. When there are _____ ______, firms with good reputations are treated exactly like firms with bad reputations.

Short Essay Questions

1. What does Branden believe causes depressions?

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

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

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

5. What is the Homestead Act?

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

7. How does a government protect its citizens?

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

9. Why do capital markets affect prices?

10. How does the existence of money help people?

(see the answer keys)

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