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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 does the author say would earn more money than Einstein?
(a) Doris Day.
(b) Donna Mae.
(c) Elvis Presley.
(d) Karl Marx.

2. What is the name that the nobility, and the king, use to describe people who are considered property?
(a) Cattle.
(b) Chargrin.
(c) Chattel.
(d) Chartered.

3. How are the railroads subsidized?
(a) Payments.
(b) Land grants.
(c) Tax deductions.
(d) Research-and-development deductions.

4. Which British civil servant says the U.S. antitrust laws cannot be understood?
(a) A.D. Neale.
(b) A.D. Brookings.
(c) A.D. Gershwin.
(d) A.D. Foster.

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

Short Answer Questions

1. The presence of regulation may make it harder to do what?

2. The author believes that businessmen take the blame for what?

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

4. According to Rand, capitalism is based on what?

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

Short Essay Questions

1. How does Alan Greenspan describe a business world with antitrust laws?

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

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

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

5. What is the Homestead Act?

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

7. Why do capital markets affect prices?

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

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

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

(see the answer keys)

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