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

Multiple Choice Questions

1. What is trade without any barriers known as?
(a) Free trade.
(b) Expansionist trade.
(c) Limited trade.
(d) Capitalist trade.

2. When there are _____ ______, firms with good reputations are treated exactly like firms with bad reputations.
(a) Customer services.
(b) Government regulations.
(c) Market incentives.
(d) Quality control.

3. What is one function of money?
(a) A means of accounting.
(b) A means of saving.
(c) A means of wealth.
(d) A means of processing.

4. One cost of union negotiated wages, according to the author, is what?
(a) Full employment.
(b) Unemployment.
(c) Mobility of employment.
(d) Investment in employment.

5. The author believes that licensing the airwaves leads to what?
(a) Protection of the consumer.
(b) Protection of the airwaves.
(c) Free speech.
(d) Censorship.

Short Answer Questions

1. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?

2. How does the author think the U.S. government does with creating property rights in airwaves?

3. What is the first antitrust legislation?

4. What do the courts protect?

5. Copyrights apply to what?

(see the answer key)

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