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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 does the author blame for crises and depressions in capitalism?
(a) Cyclical economies.
(b) Bad choices.
(c) Allocation of resources.
(d) Government interference.

2. What are the two most common metals used as a medium of exchange?
(a) Gold and tin.
(b) Gold and bronze.
(c) Gold and iron.
(d) Gold and silver.

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

4. What right does the government have that a private organization does not?
(a) The right to negotiate.
(b) The right to sue.
(c) The right to use force.
(d) The right to own property.

5. What do political economists assume that man is working for?
(a) The betterment of himelf.
(b) The good of his family.
(c) The betterment of his situation.
(d) The good of society.

Short Answer Questions

1. What helps pull the U.S. out of the Great Depression?

2. What does the author believe is the basic tool of the bureaucrat?

3. The author feels that the only way to make the industry responsive to the market is to make the airwaves what?

4. Patents apply to what?

5. Who is the author of this book?

Short Essay Questions

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

2. What is the Homestead Act?

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

4. What does Branden believe causes depressions?

5. What is a coercive monopoly?

6. What are patents and copyrights?

7. What are pre-capitalist societies based on?

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

9. How does the existence of money help people?

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

(see the answer keys)

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