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 author believes that as long as capital can flow freely, it will flow where?
(a) To where it is needed the most.
(b) To where it earns the highest rate of return.
(c) To the situation that is best for society.
(d) To the situation that is best for mankind.

2. The first labor laws aimed at children are enacted in what year?
(a) 1818.
(b) 1788.
(c) 1798.
(d) 1808.

3. What is the name of the railroad company in California that holds a virtual monopoly?
(a) Western Pacific.
(b) Main Pacific.
(c) Coastal Pacific.
(d) Central Pacific.

4. According to Rand, what must the individual be willing to do in a capitalist society?
(a) Sacrifice for monopolies.
(b) Sacrifice for the government.
(c) Sacrifice for the common good.
(d) Sacrifice for money.

5. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
(a) Mergers and acquisitions.
(b) Layoffs.
(c) Labor abuse.
(d) Price fixing.

Short Answer Questions

1. To function as a medium of exchange, an item must be durable and what?

2. Antitrust laws are written in the popular belief that if businesses were left free, what would result?

3. The bloodiest conflicts in history have been _______ _______.

4. According to the author, what will cure economic problems quickest and best?

5. What type of businessmen does the author feel are persecuted?

Short Essay Questions

1. How does gold flow through the international system?

2. How are some of the railroads not responsive to the market?

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

4. Why do capital markets affect prices?

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

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

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

8. What should the governments of free countries protect?

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

10. How does the existence of money help people?

(see the answer keys)

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