|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Gold and Economic Freedom.
Multiple Choice Questions
1. In a free market, economic power is determined by what?
(a) Price and wages.
(d) Supply and demand.
2. What is another word for statism?
3. Which British civil servant says the U.S. antitrust laws cannot be understood?
(a) A.D. Brookings.
(b) A.D. Foster.
(c) A.D. Gershwin.
(d) A.D. Neale.
4. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The adherence theory.
(b) The subjectivist theory.
(c) The implication theory.
(d) The intrinsic theory.
5. Competition, according to the author, is regulated by what market?
(a) Growth market.
(b) Securities market.
(c) Capital market.
(d) Stock market.
Short Answer Questions
1. Money functions as a __________ in transactions.
2. According to classical economics, what is the basis of competition?
3. Who is the author of the "Gold and Economic Freedom" chapter?
4. What right does the government have that a private organization does not?
5. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
This section contains 234 words
(approx. 1 page at 300 words per page)