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This quiz consists of 5 multiple choice and 5 short answer questions through Notes on the History of American Free Enterprise.

Multiple Choice Questions

1. The author believes that antitrust laws are a _______ ________________ of history.
(a) Factual representation.
(b) Gross misinterpretation.
(c) Twisted understanding.
(d) Failed experiement.

2. The Aluminum Company of America is a monopoly in the sense that it has control over what?
(a) Its price.
(b) Its sellers.
(c) Its independence.
(d) Its suppliers.

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

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

5. The author believes that businessmen take the blame for what?
(a) Government actions.
(b) Capitalism.
(c) Depressions.
(d) Recessions.

Short Answer Questions

1. Who are against war and the threat of nuclear weapons, according to the author?

2. What, according to the author, does the gold standard facilitate?

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

4. What is the result of railroad subsidies by the government?

5. According to the author, statism is often linked to what other "ism"?

(see the answer key)

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