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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. Antitrust laws are written in the popular belief that if businesses were left free, what would result?
(a) Absolute power.
(b) Excessive power.
(c) Diminshed power.
(d) Arbitrary power.

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

3. What thrives on free trade, according to the author?
(a) Liberty.
(b) Democracy.
(c) Parliamentary systems.
(d) Capitalism.

4. The author states that most wars are started by countries with what?
(a) Fair trade.
(b) Restrained trade.
(c) Controlled economies.
(d) Restricted economies.

5. What is one of the negatives that political power uses?
(a) Taxes.
(b) Restrictions.
(c) Threat of imprisonment.
(d) Regulation.

Short Answer Questions

1. What, according to the author, does the gold standard facilitate?

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

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

4. The author believes that, in statism, businessmen are what?

5. What is the name of the railroad company in California that holds a virtual monopoly?

(see the answer key)

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