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 blame for crises and depressions in capitalism?
(a) Government interference.
(b) Bad choices.
(c) Allocation of resources.
(d) Cyclical economies.

2. Money functions as a __________ in transactions.
(a) Similar currency.
(b) Easy standard.
(c) Common denominator.
(d) National linkage.

3. The author compares statism to what kind of rule?
(a) Elitist rule.
(b) Gang rule.
(c) Dictator rule.
(d) Mob rule.

4. Who writes the chapter entitled "The Effects of the industrial Revolution on Women and Children"?
(a) Robert Gallegar.
(b) Robert Lackser.
(c) Robert Hessen.
(d) Robert Fulgrough.

5. To function as a medium of exchange, an item must be durable and what?
(a) Common.
(b) Sturdy.
(c) Scarce.
(d) Plentiful.

Short Answer Questions

1. The Aluminum Company of America is a monopoly in the sense that it has control over what?

2. According to the author, in statism, who owns the members of the tribe?

3. When there are _____ ______, firms with good reputations are treated exactly like firms with bad reputations.

4. According to the author, what is the cause of the Great Depression?

5. Who is the author of the "Gold and Economic Freedom" chapter?

Short Essay Questions

1. What is a coercive monopoly?

2. What should the governments of free countries protect?

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

4. What do the peace proponents believe about force?

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

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

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

8. What is the study of political economy?

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

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

(see the answer keys)

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