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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. What is the abbreviation for the Aluminum Company of America?
(a) ACOA.
(b) ALCOA.
(c) ALCOOA.
(d) ALCA.

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

3. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?
(a) Mergers and acquisitions.
(b) Price fixing.
(c) Layoffs.
(d) Labor abuse.

4. Railroads are built using government money, and what happens to many of them?
(a) They abuse their workers.
(b) They repay the investors.
(c) They prosper.
(d) They go bankrupt.

5. What does the author believe is the basic tool of business?
(a) Values.
(b) Labor.
(c) Land.
(d) Wages.

Short Answer Questions

1. Who is the author of the "Gold and Economic Freedom" chapter?

2. Instead of reading the antitrust laws to decide if something is legal, people must read what?

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

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

5. According to the author, in statism, who owns the members of the tribe?

(see the answer key)

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