|Name: _________________________||Period: ___________________|
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. Railroads are built using government money, and what happens to many of them?
(a) They abuse their workers.
(b) They go bankrupt.
(c) They repay the investors.
(d) They prosper.
2. According to the author, in statism, who owns the members of the tribe?
(a) The elders.
(b) The elite.
(c) The tribe.
(d) The masses.
3. The power of the railroads, according to the author, comes from where?
(a) The subsidies.
(b) The government.
(c) The economy.
(d) The market.
4. The most successful railroads, according to the author, do what?
(a) Repay their financial aid from the government.
(b) Never receive financial aid from the government.
(c) Allow the government to completely fund the projects.
(d) Take a lot of financial aid from the government.
5. The existence of money promotes the division of what?
(a) Social classes.
(b) Economic classes.
Short Answer Questions
1. What is one function of money?
2. The author believes that businessmen take the blame for what?
3. According to classical economics, what is the basis of competition?
4. The author states that most wars are started by countries with what?
5. The Aluminum Company of America is a monopoly in the sense that it has control over what?
This section contains 241 words
(approx. 1 page at 300 words per page)