Free to Choose: A Personal Statement Quiz | Four Week Quiz B

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 9, The Cure for Inflation.

Multiple Choice Questions

1. To function as a medium of exchange, an item must be:
(a) accepted in exchange for goods and services
(b) easy to carry
(c) valuable
(d) printed

2. What items have not functioned as money over time:
(a) Cowrie shells
(b) beads
(c) dirt
(d) metals

3. Government spending can be financed by all but:
(a) decreasing the money supply
(b) borrowing
(c) taxes
(d) increasing the money supply

4. The airline industry is regulated by:
(a) the Air Force
(b) none of the above
(c) the Department of Transportation
(d) the Civil Aeronautics Board

5. A deposit represents:
(a) a claim against the bank
(b) money stuffed in a mattress
(c) a liability of the individual
(d) a loan to the individual

Short Answer Questions

1. Where have labor unions been stronger than they are in the United States?

2. Children from wealthy backgrounds have better chances in education and employment. This it not representative of:

3. Modern labor unions trace their roots back:

4. What is the cause of the failure of many welfare programs?

5. The distribution of income is determined by all but the following:

(see the answer key)

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