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

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

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

4. A fear of _______ leads to the passage of the first antitrust laws.
(a) Trusts.
(b) Monopolies.
(c) Conglomerates.
(d) Oligarchies.

5. According to the author, statism is often linked to what other "ism"?
(a) Militarism.
(b) Conservatism.
(c) Liberalism.
(d) Republicanism.

Short Answer Questions

1. What, according to the author, does the gold standard facilitate?

2. The most successful railroads, according to the author, do what?

3. During the Industrial Revolution, how do women earn income?

4. What subject does Stewart Holbrook write about?

5. Who is the author of this book?

Short Essay Questions

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

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

3. What role do land grants play in railroad construction?

4. What problems do the airwaves run into in the beginning of radio?

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

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

7. How is intellectual property different than physical property?

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

9. What is the study of political economy?

10. According to the author, how is science collapsing?

(see the answer keys)

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