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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. According to classical economics, what is the basis of competition?
(a) Producing and selling in a regulated system.
(b) Producing and selling as much as possible.
(c) Producing and selling for profit.
(d) Producing and selling in a down market.

2. How are the railroads subsidized?
(a) Tax deductions.
(b) Land grants.
(c) Payments.
(d) Research-and-development deductions.

3. What is the abbreviation for the Aluminum Company of America?
(a) ALCA.
(b) ALCOOA.
(c) ALCOA.
(d) ACOA.

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

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

Short Answer Questions

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

2. When the investors realize they have a problem and they all try to get out of the market, what results?

3. What is the first antitrust legislation?

4. The existence of money promotes the division of what?

5. The bloodiest conflicts in history have been _______ _______.

(see the answer key)

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