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This quiz consists of 5 multiple choice and 5 short answer questions through Notes on the History of American Free Enterprise.

Multiple Choice Questions

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

2. Antitrust laws are written in the popular belief that if businesses were left free, what would result?
(a) Excessive power.
(b) Absolute power.
(c) Arbitrary power.
(d) Diminshed power.

3. The author believes that antitrust laws are a _______ ________________ of history.
(a) Twisted understanding.
(b) Failed experiement.
(c) Gross misinterpretation.
(d) Factual representation.

4. The author states that most wars are started by countries with what?
(a) Restricted economies.
(b) Controlled economies.
(c) Fair trade.
(d) Restrained trade.

5. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
(a) Mergers and acquisitions.
(b) Layoffs.
(c) Price fixing.
(d) Labor abuse.

Short Answer Questions

1. To function as a medium of exchange, an item must be durable and what?

2. What does statism survive on, according to the author?

3. Which British civil servant says the U.S. antitrust laws cannot be understood?

4. The most successful railroads, according to the author, do what?

5. The Aluminum Company of America holds a position as the only producer of what?

(see the answer key)

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