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

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

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

4. Who are against war and the threat of nuclear weapons, according to the author?
(a) Activists.
(b) Entire populations.
(c) Governments.
(d) Peace proponents.

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

Short Answer Questions

1. The bloodiest conflicts in history have been _______ _______.

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

3. What is another word for statism?

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

5. What does statism survive on, according to the author?

(see the answer key)

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