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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. The Federal Reserve System was created when the government thought that what was happening?
(a) A shortage of interest reserves.
(b) A depression.
(c) A recession.
(d) A shortage of bank reserves.

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

3. The author feels that the only way to make the industry responsive to the market is to make the airwaves what?
(a) Bought and sold.
(b) Industry-controlled.
(c) Private property.
(d) Free.

4. What helps pull the U.S. out of the Great Depression?
(a) Free trade.
(b) World War II.
(c) An economic expansion.
(d) The New Deal.

5. What is one function of money?
(a) A means of wealth.
(b) A means of accounting.
(c) A means of saving.
(d) A means of processing.

Short Answer Questions

1. The results of intellectual property may be ______, but the intellectual property itself may not be.

2. What is one of the negatives that political power uses?

3. What does the author believe is the basic tool of business?

4. Instead of reading the antitrust laws to decide if something is legal, people must read what?

5. What is one of the keystones of capitalism?

Short Essay Questions

1. What are pre-capitalist societies based on?

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

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

4. What is the study of political economy?

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

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

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

8. What is the concept of man that underlies statism?

9. What does Branden claim is a fallacy of Marxism?

10. How is intellectual property different than physical property?

(see the answer keys)

This section contains 562 words (approx. 2 pages at 300 words per page) View a FREE sample