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 Aluminum Company of America holds a position as the only producer of what?
(a) Primary aluminum.
(b) Aluminum alloy.
(c) Secondary aluminum.
(d) Tin-aluminum.

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

3. The author feels that the only way to make the industry responsive to the market is to make the airwaves what?
(a) Industry-controlled.
(b) Private property.
(c) Bought and sold.
(d) Free.

4. Railroads are built using government money, and what happens to many of them?
(a) They repay the investors.
(b) They prosper.
(c) They go bankrupt.
(d) They abuse their workers.

5. What does the author believe is the basic tool of business?
(a) Labor.
(b) Values.
(c) Wages.
(d) Land.

Short Answer Questions

1. What do patents and copyright protect?

2. The existence of money allows people to avoid the problems of ______.

3. What do political economists assume that man is working for?

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

5. The government established by the Founding Fathers is based on theories that began with whom?

Short Essay Questions

1. What should the governments of free countries protect?

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

3. Why do capital markets affect prices?

4. What are pre-capitalist societies based on?

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

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

7. How does the existence of money help people?

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

9. How is intellectual property different than physical property?

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

(see the answer keys)

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