View a FREE sample

This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. The bloodiest conflicts in history have been _______ _______.
(a) Civil wars.
(b) Area wars.
(c) Local wars.
(d) World wars.

3. The author says the Industrial Revolution would never occur under what?
(a) A planned economy.
(b) Statism.
(c) A restrained-trade economy.
(d) Communism.

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

5. How is man viewed in tribal European culture?
(a) As subjected to the will of the whole.
(b) As free of the whole.
(c) As independent of the whole.
(d) As part of the whole.

Short Answer Questions

1. Who is J.J. Hill?

2. What is one function of money?

3. When does the gold standard cease to exist?

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

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

Short Essay Questions

1. What is the Homestead Act?

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

3. What are the first labor laws concerning factories about?

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

5. How does government regulation purport to protect the consumer?

6. Why do capital markets affect prices?

7. What is the gold standard?

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

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

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

(see the answer keys)

This section contains 555 words (approx. 2 pages at 300 words per page) View a FREE sample