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This quiz consists of 5 multiple choice and 5 short answer questions through The Assault on Integrity.

Multiple Choice Questions

1. What is the goal of the creation of the Federal Reserve System?
(a) To limit the amount of currency in circulation.
(b) To create a national savings account.
(c) To create a spending account for the military.
(d) To ease temporary reserve shortages.

2. According to the author, what is the cause of the Great Depression?
(a) Capitalism.
(b) Isolationist policies.
(c) Government intervention.
(d) Communism.

3. How are the railroads subsidized?
(a) Land grants.
(b) Payments.
(c) Tax deductions.
(d) Research-and-development deductions.

4. When there are _____ ______, firms with good reputations are treated exactly like firms with bad reputations.
(a) Customer services.
(b) Quality control.
(c) Government regulations.
(d) Market incentives.

5. The existence of money promotes the division of what?
(a) Labor.
(b) Economic classes.
(c) Specialties.
(d) Social classes.

Short Answer Questions

1. The author believes that unions serve a valuable service because they do what?

2. What does the author believe is the basic tool of business?

3. What does the author believe brought the world out of feudalism?

4. According to the author, what will cure economic problems quickest and best?

5. The Aluminum Company of America is a monopoly in the sense that it has control over what?

(see the answer key)

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