|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. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) The capital market.
(b) A stable economic country.
(c) An expansionist economic country.
(d) A high-interest-rate country.
2. What is one of the negatives that political power uses?
(c) Threat of imprisonment.
3. What type of businessmen does the author feel are persecuted?
(a) Small businessmen.
(b) Foreign businessmen.
(c) American businessmen.
(d) Local businessmen.
4. What is trade without any barriers known as?
(a) Expansionist trade.
(b) Free trade.
(c) Capitalist trade.
(d) Limited trade.
5. According to the author, in statism, who owns the members of the tribe?
(a) The masses.
(b) The elite.
(c) The elders.
(d) The tribe.
Short Answer Questions
1. What is the goal of the creation of the Federal Reserve System?
2. What is one function of money?
3. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
4. The Aluminum Company of America holds a position as the only producer of what?
5. According to classical economics, what is the basis of competition?
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