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. Objections to the school voucher plan include all but the following:
(a) there would be an increase in total costs of education
(b) there might be a constitutional church-state issue
(c) there is the possibility of fraud
(d) it would decrease the quality of education

2. An economic contraction means all but the following:
(a) unemployment
(b) increased output
(c) decreased output
(d) lower levels of income

3. The price system functions in such a way that each individual acting in his own best interests, makes everyone better off. This concept is known as the:
(a) visible hand
(b) invisible hand
(c) voluntary nature
(d) command

4. The first schools were:
(a) private with voluntary attendance
(b) public with voluntary attendance
(c) private with mandatory attendance
(d) `public with mandatory attendance

5. An egalitarian supports:
(a) total freedom for all
(b) get rich quick schemes
(c) equality of outcomes
(d) programs resulting in greater liberty

Short Answer Questions

1. New drugs cannot be marketed:

2. Prices function to transmit information to all but:

3. An exchange rate is the:

4. What problems have there been with unions?

5. What kind of international trade is best?

(see the answer key)

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