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

Multiple Choice Questions

1. A fear of _______ leads to the passage of the first antitrust laws.
(a) Trusts.
(b) Monopolies.
(c) Oligarchies.
(d) Conglomerates.

2. Copyrights apply to what?
(a) Ideas.
(b) Medicines.
(c) Actual locations.
(d) Physical items.

3. What is the name of the railroad company in California that holds a virtual monopoly?
(a) Central Pacific.
(b) Coastal Pacific.
(c) Western Pacific.
(d) Main Pacific.

4. Intellectual property may end up in the public _____ but it does not become public property.
(a) Knowledge.
(b) Domain.
(c) Area.
(d) Database.

5. What is one example, according to the author, of how property rights can be established?
(a) The Western Settlers Act.
(b) The Gold Rush Act.
(c) The Homestead Act.
(d) The Settlement Act.

Short Answer Questions

1. In a free market, economic power is determined by what?

2. What helps pull the U.S. out of the Great Depression?

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

4. What does the author believe brought the world out of feudalism?

5. According to classical economics, what is the basis of competition?

(see the answer key)

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