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

2. What subject does Stewart Holbrook write about?
(a) Failure of the railroads.
(b) Corruption in the railroads.
(c) Railroad monopolies.
(d) Government assistance to the railroads.

3. According to classical economics, what is the basis of competition?
(a) Producing and selling for profit.
(b) Producing and selling in a down market.
(c) Producing and selling in a regulated system.
(d) Producing and selling as much as possible.

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

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

Short Answer Questions

1. What is the first antitrust legislation?

2. What does the author believe is the basic tool of business?

3. To function as a medium of exchange, an item must be durable and what?

4. What is trade without any barriers known as?

5. The author compares statism to what kind of rule?

(see the answer key)

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