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This quiz consists of 5 multiple choice and 5 short answer questions through The Obliteration of Capitalism.

Multiple Choice Questions

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

2. Who does Algeria fight for independence?
(a) Spain.
(b) France.
(c) Britain.
(d) Germany.

3. According to Rand, capitalism is based on what?
(a) Self-motivation.
(b) Open borders.
(c) Altruistic principles.
(d) Government interference.

4. What, according to the author, does the gold standard facilitate?
(a) Growth and sales.
(b) Trade and production.
(c) Trade and growth.
(d) Production and sales.

5. The existence of money allows people to avoid the problems of ______.
(a) Savings.
(b) Barter.
(c) Credit.
(d) Interest.

Short Answer Questions

1. The Federal Reserve System was created when the government thought that what was happening?

2. The author believes that many less-developed countries hate America for what?

3. In the U.S., the economic system isn't a pure capitalist system but is what?

4. Governor Romney says we do not have a system of capitalism but of what?

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

(see the answer key)

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