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This quiz consists of 5 multiple choice and 5 short answer questions through Antitrust.

Multiple Choice Questions

1. What does political economy study?
(a) How scarce resources are used.
(b) How economic resources are used.
(c) How capital resources are used.
(d) How all resources are used.

2. What does the author blame for crises and depressions in capitalism?
(a) Government interference.
(b) Cyclical economies.
(c) Allocation of resources.
(d) Bad choices.

3. What is the result of railroad subsidies by the government?
(a) Rapid construction.
(b) Substandard construction.
(c) Well-done construction.
(d) Massive construction.

4. What right does the author believe is basic to the concept of freedom?
(a) Human rights.
(b) Property rights.
(c) Self-governance rights.
(d) Familial rights.

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

Short Answer Questions

1. Competition, according to the author, is regulated by what market?

2. What right does the government have that a private organization does not?

3. What is trade without any barriers known as?

4. Who is the author of the antitrust chapter?

5. What is another word for statism?

(see the answer key)

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