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

2. The legislation for the Federal Reserve System came into being as a result of:
(a) public works programs
(b) the Great Depression of 1909
(c) the collapse of the stock market
(d) runs on banks

3. The term human capital refers to the:
(a) machinery in the factory
(b) kinds of inputs the worker uses
(c) output produced by a fasting
(d) personal productive capacity of an individual

4. Government subsidies to industry are viewed as:
(a) unfair competition
(b) a way to increase efficiency
(c) good economic policy
(d) a necessity

5. The Federal Deposit Insurance Corporation:
(a) provides mortgage insurance for homeowners
(b) guarantees the repayment of bank loans
(c) guarantees deposits against a loss up to a stated amount
(d) guarantees the full amount of all deposits against loss

Short Answer Questions

1. Trade restrictions create:

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

3. The national security argument for protection states that:

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

5. Which of the following was not a part of the 1964 War on Poverty program?

(see the answer key)

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