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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 are the two most common metals used as a medium of exchange?
(a) Gold and bronze.
(b) Gold and silver.
(c) Gold and iron.
(d) Gold and tin.

2. The author believes that, in statism, businessmen are what?
(a) The elite.
(b) The scapegoats.
(c) The politicians.
(d) The taxpayers.

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

4. The Federal Reserve System was created when the government thought that what was happening?
(a) A recession.
(b) A shortage of bank reserves.
(c) A shortage of interest reserves.
(d) A depression.

5. Who is the author of the antitrust chapter?
(a) Alan Greenspan.
(b) Arnod Greenspan.
(c) Alex Greenspan.
(d) Arnold Greenspan.

Short Answer Questions

1. How are the railroads subsidized?

2. What is trade without any barriers known as?

3. What is the goal of the creation of the Federal Reserve System?

4. What is another word for statism?

5. The author believes that antitrust laws are a _______ ________________ of history.

(see the answer key)

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