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. What is the abbreviation for the Aluminum Company of America?
(a) ALCA.
(b) ALCOOA.
(c) ACOA.
(d) ALCOA.

2. Who is the author of the antitrust chapter?
(a) Alex Greenspan.
(b) Alan Greenspan.
(c) Arnold Greenspan.
(d) Arnod Greenspan.

3. What is trade without any barriers known as?
(a) Expansionist trade.
(b) Limited trade.
(c) Capitalist trade.
(d) Free trade.

4. What is the goal of the creation of the Federal Reserve System?
(a) To ease temporary reserve shortages.
(b) To create a national savings account.
(c) To create a spending account for the military.
(d) To limit the amount of currency in circulation.

5. According to Rand, capitalism is based on what?
(a) Open borders.
(b) Self-motivation.
(c) Altruistic principles.
(d) Government interference.

Short Answer Questions

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

2. One cost of union negotiated wages, according to the author, is what?

3. Who are against war and the threat of nuclear weapons, according to the author?

4. The term "evils of monopoly" refers to a situation in which the monopolist is completely ______ of the market.

5. The existence of money allows people to avoid the problems of ______.

Short Essay Questions

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

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

3. What are patents and copyrights?

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

5. What should the governments of free countries protect?

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

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

8. What does Greenspan think of U.S. antitrust laws?

9. Why are people terrified of war, according to the author?

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

(see the answer keys)

This section contains 537 words (approx. 2 pages at 300 words per page) View a FREE sample