|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Antitrust.
Multiple Choice Questions
1. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
(a) Price fixing.
(b) Labor abuse.
(c) Mergers and acquisitions.
2. According to classical economics, what is the basis of competition?
(a) Producing and selling as much as possible.
(b) Producing and selling for profit.
(c) Producing and selling in a down market.
(d) Producing and selling in a regulated system.
3. What is the first antitrust legislation?
(a) The Sherman Act.
(b) The Humphry Act.
(c) The Trump Act.
(d) The Taft Act.
4. Antitrust laws are written in the popular belief that if businesses were left free, what would result?
(a) Arbitrary power.
(b) Diminshed power.
(c) Absolute power.
(d) Excessive power.
5. What right does the author believe is basic to the concept of freedom?
(a) Property rights.
(b) Self-governance rights.
(c) Human rights.
(d) Familial rights.
Short Answer Questions
1. What do political economists assume that man is working for?
2. What does the author believe is the basic tool of business?
3. What right does the government have that a private organization does not?
4. What is one of the keystones of capitalism?
5. What does political economy study?
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