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. Who is the author of the "Gold and Economic Freedom" chapter?
(a) Theodore Huffington.
(b) Marcus Bludger.
(c) Alan Greenspan.
(d) Richard Fullerton.

2. The most successful railroads, according to the author, do what?
(a) Repay their financial aid from the government.
(b) Take a lot of financial aid from the government.
(c) Never receive financial aid from the government.
(d) Allow the government to completely fund the projects.

3. Railroads are built using government money, and what happens to many of them?
(a) They prosper.
(b) They repay the investors.
(c) They abuse their workers.
(d) They go bankrupt.

4. What does political economy study?
(a) How capital resources are used.
(b) How all resources are used.
(c) How economic resources are used.
(d) How scarce resources are used.

5. To function as a medium of exchange, an item must be durable and what?
(a) Sturdy.
(b) Plentiful.
(c) Scarce.
(d) Common.

Short Answer Questions

1. Money functions as a __________ in transactions.

2. The government established by the Founding Fathers is based on theories that began with whom?

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

4. What right does the government have that a private organization does not?

5. What do the courts protect?

Short Essay Questions

1. What should the governments of free countries protect?

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

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

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

5. How do most political economists approach their study of man?

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

7. What does Branden believe causes depressions?

8. What do the peace proponents believe about force?

9. How does the existence of money help people?

10. How are businessmen persecuted?

(see the answer keys)

This section contains 525 words (approx. 2 pages at 300 words per page) View a FREE sample