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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What is one function of money?

2. The author believes that, in statism, businessmen are what?

3. What does the author blame for crises and depressions in capitalism?

4. In a free market, economic power is determined by what?

5. What is the position held by the man who brings the airwaves under U.S. government control?

Short Essay Questions

1. What is the study of political economy?

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

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

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

5. What should the governments of free countries protect?

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

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

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

9. What is the gold standard?

10. What are patents and copyrights?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

According to the information presented in the book, what are the political, economic, social, moral and philosophic differences between the reason-individualism-capitalism position and the mysticism-altruism-collectivism positions?

Essay Topic 2

What is statism and how does statism affect freedom? Cite examples from the text to support your answer.

Essay Topic 3

The author believes that the fundamental question used to evaluate a social system is whether or not the system acknowledges individual rights and bars the use of physical force, and whether or not man is a free individual or the property of the tribe. Evaluate the social and economic systems presented in this book using this question. Use appropriate examples from the text to support your answer.

(see the answer keys)

This section contains 604 words (approx. 3 pages at 300 words per page) View a FREE sample