|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is the name that the nobility, and the king, use to describe people who are considered property?
2. The existence of money promotes the division of what?
(b) Social classes.
(c) Economic classes.
3. Copyrights apply to what?
(b) Physical items.
(d) Actual locations.
4. During the Industrial Revolution, how do women earn income?
(a) In the streets.
(b) In the factories.
(c) In the brothels.
(d) By working from home.
5. What do the courts protect?
(c) Labor unions.
6. What is the abbreviation for the Aluminum Company of America?
7. According to the author, what is the cause of the Great Depression?
(a) Government intervention.
(c) Isolationist policies.
8. The first labor laws aimed at children are enacted in what year?
9. Who does Algeria fight for independence?
10. What does statism survive on, according to the author?
11. What does the author believe is the basic tool of the bureaucrat?
12. A fear of _______ leads to the passage of the first antitrust laws.
13. What is one of the negatives that political power uses?
(b) Threat of imprisonment.
14. Competition, according to the author, is regulated by what market?
(a) Securities market.
(b) Capital market.
(c) Growth market.
(d) Stock market.
15. The presence of regulation may make it harder to do what?
(a) Announce ethical behavior.
(b) Uncover unethical behavior.
(c) Hide unethical behavior.
(d) Reward ethical behavior.
Short Answer Questions
1. The author believes that licensing the airwaves leads to what?
2. When there are _____ ______, firms with good reputations are treated exactly like firms with bad reputations.
3. The term "evils of monopoly" refers to a situation in which the monopolist is completely ______ of the market.
4. Who is J.J. Hill?
5. How are the railroads subsidized?
This section contains 329 words
(approx. 2 pages at 300 words per page)