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This quiz consists of 5 multiple choice and 5 short answer questions through Notes on the History of American Free Enterprise.

Multiple Choice Questions

1. Instead of reading the antitrust laws to decide if something is legal, people must read what?
(a) Case law.
(b) Delaware corporations code.
(c) Supreme Court decisions.
(d) History.

2. What is another word for statism?
(a) Collectivism.
(b) Communism.
(c) Connectivism.
(d) Concernism.

3. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) The capital market.
(b) An expansionist economic country.
(c) A stable economic country.
(d) A high-interest-rate country.

4. What does the author believe is the basic tool of the bureaucrat?
(a) Loathing.
(b) Immorality.
(c) Fear.
(d) Disrespect.

5. In a free market, economic power is determined by what?
(a) Surplus.
(b) Inflation.
(c) Supply and demand.
(d) Price and wages.

Short Answer Questions

1. Who is the author of the antitrust chapter?

2. Who are against war and the threat of nuclear weapons, according to the author?

3. What are the two most common metals used as a medium of exchange?

4. The existence of money allows people to avoid the problems of ______.

5. Antitrust laws are written in the popular belief that if businesses were left free, what would result?

(see the answer key)

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