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. What does the author believe brought the world out of feudalism?
(a) Free trade.
(b) Limited trade.
(c) Statism.
(d) The Industrial Revolution.

2. What is the goal of the creation of the Federal Reserve System?
(a) To ease temporary reserve shortages.
(b) To create a spending account for the military.
(c) To create a national savings account.
(d) To limit the amount of currency in circulation.

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

4. What does the term "evils of monopoly" refer to?
(a) Corrupt monopoly.
(b) Coevasive monopoly.
(c) Corrosive monopoly.
(d) Coercive monopoly.

5. What does political economy study?
(a) How economic resources are used.
(b) How all resources are used.
(c) How capital resources are used.
(d) How scarce resources are used.

Short Answer Questions

1. How does the author think the U.S. government does with creating property rights in airwaves?

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

3. When the investors realize they have a problem and they all try to get out of the market, what results?

4. What thrives on free trade, according to the author?

5. The author compares statism to what kind of rule?

Short Essay Questions

1. What does the author believe happens if a nation doesn't respect the rights of its citizens?

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

3. How does gold flow through the international system?

4. What is the Homestead Act?

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

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

7. What are the first labor laws concerning children about?

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

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

10. What does Branden believe causes depressions?

(see the answer keys)

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