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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. Who is the author of this book?
(a) Annabelle Rand.
(b) Ayn Rand.
(c) Anna Rand.
(d) Alena Rand.

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

3. What is another word for statism?
(a) Communism.
(b) Connectivism.
(c) Collectivism.
(d) Concernism.

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

5. The author believes that licensing the airwaves leads to what?
(a) Protection of the consumer.
(b) Protection of the airwaves.
(c) Censorship.
(d) Free speech.

Short Answer Questions

1. The Aluminum Company of America is a monopoly in the sense that it has control over what?

2. The author believes that antitrust laws are a _______ ________________ of history.

3. Branden says that public education is not a ______ _______ because it must be paid for.

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

5. Who is the author of the "Gold and Economic Freedom" chapter?

Short Essay Questions

1. What is the Homestead Act?

2. What are pre-capitalist societies based on?

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

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

5. What is the gold standard?

6. How does gold flow through the international system?

7. How is banking controlled when the system is based on gold?

8. How are some of the railroads not responsive to the market?

9. What does A.D. Neale think about U.S. antitrust laws?

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

(see the answer keys)

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