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

Multiple Choice Questions

1. The first labor laws aimed at children target those working as what?
(a) Cleaners.
(b) Chimney sweeps.
(c) Cooks and servers.
(d) Factory help.

2. The presence of regulation may make it harder to do what?
(a) Reward ethical behavior.
(b) Uncover unethical behavior.
(c) Announce ethical behavior.
(d) Hide unethical behavior.

3. When does the gold standard cease to exist?
(a) At the beginning of World War I.
(b) At the end of World War II.
(c) At the beginning of World War II.
(d) At the end of World War I.

4. The author believes that antitrust laws are a _______ ________________ of history.
(a) Factual representation.
(b) Gross misinterpretation.
(c) Failed experiement.
(d) Twisted understanding.

5. The author believes that capitalism cannot function with what?
(a) Uneducated workers.
(b) Slaves.
(c) Individual rights.
(d) Subservience.

6. What do patents and copyright protect?
(a) Scientific knowledge.
(b) Private property.
(c) Musical creations.
(d) Intellectual property.

7. The most successful railroads, according to the author, do what?
(a) Repay their financial aid from the government.
(b) Take a lot of financial aid from the government.
(c) Allow the government to completely fund the projects.
(d) Never receive financial aid from the government.

8. What does Greenspan claim is the best protection for the consumer?
(a) Government regulation.
(b) A controlled economy.
(c) The profits of businessmen.
(d) Independent agencies.

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

10. What is one of the keystones of capitalism?
(a) Reason.
(b) Thinking.
(c) Logic.
(d) Philosophy.

11. What right does the government have that a private organization does not?
(a) The right to own property.
(b) The right to negotiate.
(c) The right to use force.
(d) The right to sue.

12. Which British civil servant says the U.S. antitrust laws cannot be understood?
(a) A.D. Gershwin.
(b) A.D. Brookings.
(c) A.D. Foster.
(d) A.D. Neale.

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

14. The government established by the Founding Fathers is based on theories that began with whom?
(a) Marx.
(b) Socrates.
(c) Plato.
(d) Aristotle.

15. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
(a) Price fixing.
(b) Mergers and acquisitions.
(c) Layoffs.
(d) Labor abuse.

Short Answer Questions

1. What is the result of railroad subsidies by the government?

2. How is man viewed in tribal European culture?

3. According to the author, what will cure economic problems quickest and best?

4. Who is the author of this book?

5. What is the name that the nobility, and the king, use to describe people who are considered property?

(see the answer keys)

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