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This quiz consists of 5 multiple choice and 5 short answer questions through The Assault on Integrity.

Multiple Choice Questions

1. The Federal Reserve System was created when the government thought that what was happening?
(a) A recession.
(b) A shortage of interest reserves.
(c) A depression.
(d) A shortage of bank reserves.

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

3. The author believes that as long as capital can flow freely, it will flow where?
(a) To the situation that is best for mankind.
(b) To where it is needed the most.
(c) To the situation that is best for society.
(d) To where it earns the highest rate of return.

4. How is man viewed in tribal European culture?
(a) As subjected to the will of the whole.
(b) As independent of the whole.
(c) As part of the whole.
(d) As free of the whole.

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

Short Answer Questions

1. What is the name of the railroad company in California that holds a virtual monopoly?

2. How does government regulation, according to the author, try to protect the consumer?

3. Money functions as a __________ in transactions.

4. What are ALCOA, General Electric and other companies said to be engaged in that cause them to be sued under the antitrust laws?

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

(see the answer key)

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