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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

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

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

3. Competition, according to the author, is regulated by what market?
(a) Securities market.
(b) Stock market.
(c) Capital market.
(d) Growth market.

4. During the Industrial Revolution, where do many children find jobs?
(a) In restaurants.
(b) In homes.
(c) In stores.
(d) In factories.

5. According to the author, in statism, who owns the members of the tribe?
(a) The elders.
(b) The tribe.
(c) The masses.
(d) The elite.

6. What subject does Stewart Holbrook write about?
(a) Corruption in the railroads.
(b) Railroad monopolies.
(c) Failure of the railroads.
(d) Government assistance to the railroads.

7. The power of the railroads, according to the author, comes from where?
(a) The economy.
(b) The government.
(c) The subsidies.
(d) The market.

8. Intellectual property may end up in the public _____ but it does not become public property.
(a) Domain.
(b) Database.
(c) Area.
(d) Knowledge.

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

10. Branden says that, according to the statists, depressions are part of what?
(a) Laissez-faire capitalism.
(b) Economic cycles.
(c) Free-market enterprises.
(d) Government-controlled systems.

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

12. What chapter does Nathaniel Branden write?
(a) "Common Fallacies About Capitalism."
(b) "Common Truths About Capitalism."
(c) "Monopolies and Trade."
(d) "Antitrust."

13. Government regulations tend to be _______, meaning that they dictate a minimum standard of what cannot be done.
(a) Extreme.
(b) Limited.
(c) Convoluted.
(d) Negative.

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

15. What is the result of railroad subsidies by the government?
(a) Massive construction.
(b) Rapid construction.
(c) Well-done construction.
(d) Substandard construction.

Short Answer Questions

1. What is one example, according to the author, of how property rights can be established?

2. Who does the author say would earn more money than Einstein?

3. How long do copyrights last in the United Kingdom?

4. Who does Algeria fight for independence?

5. A fear of _______ leads to the passage of the first antitrust laws.

(see the answer keys)

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