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

Multiple Choice Questions

1. The first labor laws aimed at children are enacted in what year?
(a) 1808.
(b) 1798.
(c) 1818.
(d) 1788.

2. During the Industrial Revolution, how do women earn income?
(a) By working from home.
(b) In the factories.
(c) In the streets.
(d) In the brothels.

3. What does statism survive on, according to the author?
(a) Peace.
(b) Expansion.
(c) War.
(d) Trade.

4. What, according to the author, does the gold standard facilitate?
(a) Trade and growth.
(b) Trade and production.
(c) Growth and sales.
(d) Production and sales.

5. In a gold-standard system, gold will flow from a low-interest-rate country to where?
(a) The capital market.
(b) A stable economic country.
(c) An expansionist economic country.
(d) A high-interest-rate country.

6. How long do copyrights last in the United Kingdom?
(a) The life of the originator plus 25 years.
(b) The life of the originator plus 50 years.
(c) The life of the originator plus 100 years.
(d) The life of the originator plus 75 years.

7. When does the gold standard cease to exist?
(a) At the end of World War II.
(b) At the beginning of World War II.
(c) At the end of World War I.
(d) At the beginning of World War I.

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

9. The bloodiest conflicts in history have been _______ _______.
(a) Area wars.
(b) Local wars.
(c) Civil wars.
(d) World wars.

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

11. In a free market, economic power is determined by what?
(a) Inflation.
(b) Supply and demand.
(c) Surplus.
(d) Price and wages.

12. The author compares statism to what kind of rule?
(a) Gang rule.
(b) Elitist rule.
(c) Dictator rule.
(d) Mob rule.

13. Instead of reading the antitrust laws to decide if something is legal, people must read what?
(a) Supreme Court decisions.
(b) History.
(c) Case law.
(d) Delaware corporations code.

14. Patents apply to what?
(a) Land.
(b) Inventions.
(c) Personal information.
(d) Theoretical knowledge.

15. What do patents and copyright protect?
(a) Musical creations.
(b) Scientific knowledge.
(c) Private property.
(d) Intellectual property.

Short Answer Questions

1. What is one example, according to the author, of how property rights can be established?

2. Who does the author say would earn more money than Einstein?

3. Who writes the chapter entitled "The Effects of the industrial Revolution on Women and Children"?

4. What are the two most common metals used as a medium of exchange?

5. A fear of _______ leads to the passage of the first antitrust laws.

(see the answer keys)

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