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 first labor laws aimed at children target those working as what?
(a) Factory help.
(b) Chimney sweeps.
(c) Cooks and servers.
(d) Cleaners.

2. What helps pull the U.S. out of the Great Depression?
(a) The New Deal.
(b) An economic expansion.
(c) Free trade.
(d) World War II.

3. The Aluminum Company of America is a monopoly in the sense that it has control over what?
(a) Its suppliers.
(b) Its independence.
(c) Its price.
(d) Its sellers.

4. What is the first antitrust legislation?
(a) The Humphry Act.
(b) The Taft Act.
(c) The Sherman Act.
(d) The Trump Act.

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

Short Answer Questions

1. What, according to the author, does the gold standard facilitate?

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

3. What does the author believe brought the world out of feudalism?

4. Money functions as a __________ in transactions.

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

Short Essay Questions

1. Why do capital markets affect prices?

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

3. How does the existence of money help people?

4. What does Greenspan think of U.S. antitrust laws?

5. What are patents and copyrights?

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

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

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

9. What is the Homestead Act?

10. When does the author say that an irrational side will win an argument?

(see the answer keys)

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