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This quiz consists of 5 multiple choice and 5 short answer questions through Gold and Economic Freedom.

Multiple Choice Questions

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

2. What do the courts protect?
(a) Property.
(b) Labor unions.
(c) Criminals.
(d) Businesses.

3. To function as a medium of exchange, an item must be durable and what?
(a) Scarce.
(b) Sturdy.
(c) Common.
(d) Plentiful.

4. Money functions as a __________ in transactions.
(a) Similar currency.
(b) National linkage.
(c) Easy standard.
(d) Common denominator.

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

Short Answer Questions

1. When does the gold standard cease to exist?

2. Branden says that public education is not a ______ _______ because it must be paid for.

3. What is one of the negatives that political power uses?

4. What do political economists assume that man is working for?

5. According to the author, what will cure economic problems quickest and best?

(see the answer key)

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