|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. Competition, according to the author, is regulated by what market?
(a) Growth market.
(b) Securities market.
(c) Capital market.
(d) Stock market.
2. When does the gold standard cease to exist?
(a) At the beginning of World War I.
(b) At the end of World War I.
(c) At the end of World War II.
(d) At the beginning of World War II.
3. Railroads are built using government money, and what happens to many of them?
(a) They go bankrupt.
(b) They repay the investors.
(c) They prosper.
(d) They abuse their workers.
4. The power of the railroads, according to the author, comes from where?
(a) The economy.
(b) The subsidies.
(c) The government.
(d) The market.
5. What, according to the author, does the gold standard facilitate?
(a) Growth and sales.
(b) Production and sales.
(c) Trade and production.
(d) Trade and growth.
Short Answer Questions
1. What is the abbreviation for the Aluminum Company of America?
2. What is another word for statism?
3. Instead of reading the antitrust laws to decide if something is legal, people must read what?
4. What is the name of the railroad company in California that holds a virtual monopoly?
5. According to classical economics, what is the basis of competition?
This section contains 230 words
(approx. 1 page at 300 words per page)