Free to Choose: A Personal Statement Quiz | Eight Week Quiz C

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4, Cradle to Grave.

Multiple Choice Questions

1. The infant industry argument for protection says a:
(a) no industries should receive protection
(b) new industry should be given protection until it matures and can compete on its own
(c) all new industries should be given protection
(d) only certain industries should receive protection

2. After World War II government expansion was due to:
(a) commerce
(b) nationalization of industry
(c) central economic planning
(d) finance

3. Regarding the depression, Roosevelt's adviser's believed in:
(a) a balanced budget
(b) waiting for the economy to heal itself
(c) aggressive intervention by government
(d) no intervention in the economy

4. What interferes with the transmittal of information by prices?
(a) actions of buyers
(b) Governmental control of prices
(c) actions of manufacturers
(d) actions of sellers

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

Short Answer Questions

1. A tariff implemented to raise employment in the domestic nation:

2. When the Fed sells bonds:

3. A deposit represents:

4. The program that is proposed as a replacement for all welfare programs is the:

5. Which of the following is not a function of the price system:

(see the answer key)

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