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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. Branden says that, according to the statists, depressions are part of what?
(a) Government-controlled systems.
(b) Economic cycles.
(c) Laissez-faire capitalism.
(d) Free-market enterprises.

2. Who is the author of the antitrust chapter?
(a) Alex Greenspan.
(b) Alan Greenspan.
(c) Arnold Greenspan.
(d) Arnod Greenspan.

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

4. What is trade without any barriers known as?
(a) Capitalist trade.
(b) Free trade.
(c) Limited trade.
(d) Expansionist trade.

5. Who does Algeria fight for independence?
(a) Spain.
(b) Germany.
(c) Britain.
(d) France.

Short Answer Questions

1. What is one example, according to the author, of how property rights can be established?

2. Intellectual property may end up in the public _____ but it does not become public property.

3. Who are against war and the threat of nuclear weapons, according to the author?

4. What is the abbreviation for the Aluminum Company of America?

5. What subject does Stewart Holbrook write about?

Short Essay Questions

1. Why are people terrified of war, according to the author?

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

3. How is banking controlled when the system is based on gold?

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

5. What do the peace proponents believe about force?

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

7. What are pre-capitalist societies based on?

8. What are patents and copyrights?

9. What is the gold standard?

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

(see the answer keys)

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