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. How are the railroads subsidized?
(a) Tax deductions.
(b) Research-and-development deductions.
(c) Land grants.
(d) Payments.

2. The term "evils of monopoly" refers to a situation in which the monopolist is completely ______ of the market.
(a) Demanding.
(b) In control.
(c) Independent.
(d) Evasive.

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

4. What is one function of money?
(a) A means of accounting.
(b) A means of processing.
(c) A means of saving.
(d) A means of wealth.

5. The results of intellectual property may be ______, but the intellectual property itself may not be.
(a) Reclaimed.
(b) Retained.
(c) Transferred.
(d) Discovered.

Short Answer Questions

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

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

3. What do the courts protect?

4. What is the name of the railroad company in California that holds a virtual monopoly?

5. What does political economy study?

Short Essay Questions

1. How does a government protect its citizens?

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

3. What is the gold standard?

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

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

6. How is intellectual property different than physical property?

7. What are patents and copyrights?

8. What does Branden believe causes depressions?

9. Why do capital markets affect prices?

10. What does Branden claim is a fallacy of Marxism?

(see the answer keys)

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