|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The intrinsic theory.
(b) The implication theory.
(c) The adherence theory.
(d) The subjectivist theory.
2. What are the two most common metals used as a medium of exchange?
(a) Gold and iron.
(b) Gold and tin.
(c) Gold and bronze.
(d) Gold and silver.
3. The author believes that antitrust laws are a _______ ________________ of history.
(a) Factual representation.
(b) Gross misinterpretation.
(c) Twisted understanding.
(d) Failed experiement.
4. The author believes that unions serve a valuable service because they do what?
(a) Raise the benefits to the worker.
(b) Prevent the employer from firing the worker.
(c) Raise the cost of production.
(d) Represent the worker to the employer.
5. What, according to the author, does the gold standard facilitate?
(a) Trade and growth.
(b) Growth and sales.
(c) Trade and production.
(d) Production and sales.
Short Answer Questions
1. What is the abbreviation for the Aluminum Company of America?
2. The author believes that licensing the airwaves leads to what?
3. A fear of _______ leads to the passage of the first antitrust laws.
4. Intellectual property may end up in the public _____ but it does not become public property.
5. The Aluminum Company of America is a monopoly in the sense that it has control over what?
Short Essay Questions
1. How does gold flow through the international system?
2. How does Fromm characterize man's alienation?
3. What is the Homestead Act?
4. Why are people terrified of war, according to the author?
5. What does Branden believe causes depressions?
6. How do most political economists approach their study of man?
7. How does the existence of money help people?
8. What is the study of political economy?
9. What is the theme of "Atlas Shrugged"?
10. What is one definition of capitalism that its supporters might use?
This section contains 549 words
(approx. 2 pages at 300 words per page)