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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 existence of money allows people to avoid the problems of ______.
(a) Savings.
(b) Interest.
(c) Barter.
(d) Credit.

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

3. What is another word for statism?
(a) Concernism.
(b) Connectivism.
(c) Communism.
(d) Collectivism.

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

5. What right does the author believe is basic to the concept of freedom?
(a) Familial rights.
(b) Property rights.
(c) Human rights.
(d) Self-governance rights.

Short Answer Questions

1. According to the author, what kind of governments use weapons against their own people?

2. How many keystones are there to capitalism?

3. Branden says that, according to the statists, depressions are part of what?

4. According to classical economics, what is the basis of competition?

5. What chapter does Nathaniel Branden write?

Short Essay Questions

1. How does the existence of money help people?

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

3. What is the study of political economy?

4. What are pre-capitalist societies based on?

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

6. What is a coercive monopoly?

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

8. What does A.D. Neale think about U.S. antitrust laws?

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

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

(see the answer keys)

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