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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 does Greenspan claim is the best protection for the consumer?

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

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

4. The existence of money allows people to avoid the problems of ______.

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

Short Essay Questions

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

2. How is intellectual property different than physical property?

3. What do the peace proponents believe about force?

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

5. What is the Homestead Act?

6. Why do capital markets affect prices?

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

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

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

10. How does the existence of money help people?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Based on the information given in this book, do men work better in an atmosphere of freedom rather than one of coercion? Why or why not? Use examples from the book to support your answer.

Essay Topic 2

What do the various authors believe about government spending? How do Greenspan, Rand, Hessen and Branden say government should spend its money and resources? Use examples from the book to compare and contrast the various authors and their beliefs.

Essay Topic 3

What is taxation, and what is its effect on the economy? Cite specific examples from the book to support your answer.

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