|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Gold and Economic Freedom.
Multiple Choice Questions
1. According to the author, what will cure economic problems quickest and best?
(a) Restrictions of trade.
(c) The economy.
2. What does political economy study?
(a) How capital resources are used.
(b) How all resources are used.
(c) How scarce resources are used.
(d) How economic resources are used.
3. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) The capital market.
(b) A high-interest-rate country.
(c) An expansionist economic country.
(d) A stable economic country.
4. How are the railroads subsidized?
(b) Research-and-development deductions.
(c) Tax deductions.
(d) Land grants.
5. The Aluminum Company of America holds a position as the only producer of what?
(a) Aluminum alloy.
(c) Primary aluminum.
(d) Secondary aluminum.
Short Answer Questions
1. One cost of union negotiated wages, according to the author, is what?
2. The author compares statism to what kind of rule?
3. The author believes that, in statism, businessmen are what?
4. What, according to the author, does the gold standard facilitate?
5. What does the author believe is the basic tool of business?
This section contains 196 words
(approx. 1 page at 300 words per page)