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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 goal of the creation of the Federal Reserve System?
(a) To create a spending account for the military.
(b) To limit the amount of currency in circulation.
(c) To ease temporary reserve shortages.
(d) To create a national savings account.

2. Which British civil servant says the U.S. antitrust laws cannot be understood?
(a) A.D. Brookings.
(b) A.D. Foster.
(c) A.D. Neale.
(d) A.D. Gershwin.

3. Who are against war and the threat of nuclear weapons, according to the author?
(a) Activists.
(b) Governments.
(c) Entire populations.
(d) Peace proponents.

4. A fear of _______ leads to the passage of the first antitrust laws.
(a) Oligarchies.
(b) Trusts.
(c) Monopolies.
(d) Conglomerates.

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

Short Answer Questions

1. The Federal Reserve System was created when the government thought that what was happening?

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

3. Railroads are built using government money, and what happens to many of them?

4. The author compares statism to what kind of rule?

5. When does the gold standard cease to exist?

(see the answer key)

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