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

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5, Created Equal.

Multiple Choice Questions

1. What is the cause of the failure of many welfare programs?
(a) design and implementation flaws
(b) lack of interest by the government
(c) lack of recipients
(d) lack of interest by the public

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

3. A change in prices affects all but the following:
(a) wages
(b) procedures income
(c) nothing
(d) incentrive to act on information

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

5. The programs of the Roosevelt administration designed to deal with the Depression are called the:
(a) laissez-faire programs
(b) New Deal programs
(c) financial assistance programs
(d) balanced budget programs

Short Answer Questions

1. A market failure occurs when:

2. What words did Thomas Jefferson write?

3. Which of the following is not one of Adam Smith's duties of government?

4. The economy functions on the basis of:

5. The infant industry argument for protection says a:

(see the answer key)

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