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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What type of businessmen does the author feel are persecuted?
(a) Local businessmen.
(b) American businessmen.
(c) Foreign businessmen.
(d) Small businessmen.

2. What is the name that the nobility, and the king, use to describe people who are considered property?
(a) Chartered.
(b) Chargrin.
(c) Cattle.
(d) Chattel.

3. Who is the author of the "Gold and Economic Freedom" chapter?
(a) Marcus Bludger.
(b) Alan Greenspan.
(c) Richard Fullerton.
(d) Theodore Huffington.

4. How, according to the author, does the concept of private property come into existence?
(a) With capitalism.
(b) Through the Cultural Revolution.
(c) From Karl Marx.
(d) During feudalism.

5. The author believes that unions serve a valuable service because they do what?
(a) Prevent the employer from firing the worker.
(b) Raise the cost of production.
(c) Represent the worker to the employer.
(d) Raise the benefits to the worker.

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

7. What is the name of the theory that states that good is embodied in various actions regardless of benefits and consequences?
(a) The implication theory.
(b) The subjectivist theory.
(c) The intrinsic theory.
(d) The adherence theory.

8. The results of intellectual property may be ______, but the intellectual property itself may not be.
(a) Retained.
(b) Discovered.
(c) Transferred.
(d) Reclaimed.

9. What is one of the negatives that political power uses?
(a) Threat of imprisonment.
(b) Regulation.
(c) Restrictions.
(d) Taxes.

10. What does the author believe is the basic tool of the bureaucrat?
(a) Immorality.
(b) Fear.
(c) Disrespect.
(d) Loathing.

11. What right does the government have that a private organization does not?
(a) The right to use force.
(b) The right to sue.
(c) The right to negotiate.
(d) The right to own property.

12. According to the author, what kind of governments use weapons against their own people?
(a) Dictatorships.
(b) Democracies.
(c) Communists.
(d) Republics.

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

14. Who does Algeria fight for independence?
(a) Britain.
(b) Germany.
(c) Spain.
(d) France.

15. The presence of regulation may make it harder to do what?
(a) Reward ethical behavior.
(b) Announce ethical behavior.
(c) Uncover unethical behavior.
(d) Hide unethical behavior.

Short Answer Questions

1. Instead of reading the antitrust laws to decide if something is legal, people must read what?

2. The existence of money allows people to avoid the problems of ______.

3. What is the goal of the creation of the Federal Reserve System?

4. What does political economy study?

5. The author believes that antitrust laws are a _______ ________________ of history.

(see the answer keys)

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