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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 first antitrust legislation?
(a) The Taft Act.
(b) The Humphry Act.
(c) The Trump Act.
(d) The Sherman Act.

2. According to the author, what kind of governments use weapons against their own people?
(a) Dictatorships.
(b) Communists.
(c) Democracies.
(d) Republics.

3. What does statism survive on, according to the author?
(a) War.
(b) Trade.
(c) Expansion.
(d) Peace.

4. What right does the government have that a private organization does not?
(a) The right to negotiate.
(b) The right to use force.
(c) The right to own property.
(d) The right to sue.

5. According to the author, in statism, who owns the members of the tribe?
(a) The tribe.
(b) The elite.
(c) The elders.
(d) The masses.

Short Answer Questions

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

2. What type of businessmen does the author feel are persecuted?

3. According to classical economics, what is the basis of competition?

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

5. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?

(see the answer key)

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