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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. What is the result of railroad subsidies by the government?
(a) Substandard construction.
(b) Well-done construction.
(c) Rapid construction.
(d) Massive construction.

2. The author believes that unions serve a valuable service because they do what?
(a) Raise the cost of production.
(b) Raise the benefits to the worker.
(c) Prevent the employer from firing the worker.
(d) Represent the worker to the employer.

3. Who are against war and the threat of nuclear weapons, according to the author?
(a) Activists.
(b) Governments.
(c) Entire populations.
(d) Peace proponents.

4. The first labor laws aimed at children target those working as what?
(a) Chimney sweeps.
(b) Cleaners.
(c) Cooks and servers.
(d) Factory help.

5. What thrives on free trade, according to the author?
(a) Democracy.
(b) Parliamentary systems.
(c) Liberty.
(d) Capitalism.

Short Answer Questions

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

2. What do patents and copyright protect?

3. The Aluminum Company of America holds a position as the only producer of what?

4. When the investors realize they have a problem and they all try to get out of the market, what results?

5. Who writes the chapter entitled "The Effects of the industrial Revolution on Women and Children"?

Short Essay Questions

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

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

3. How does gold flow through the international system?

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

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

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

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

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

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

10. What is the gold standard?

(see the answer keys)

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