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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 8, Who Protects the Worker?.

Multiple Choice Questions

1. Which bank failure precipitated the banking crisis of 1930?
(a) The Bank of the United States
(b) Bank of England
(c) Chase
(d) Knickerbocker Trust

2. What do higher union wages cause?
(a) no change in prices
(b) more jobs
(c) higher prices
(d) lower prices

3. The first head of the Federal Reserve System was:
(a) Alan Greenspan
(b) Alexander Hamilton
(c) Benjamin Strong
(d) J.P. organ

4. Which of the following is not a way of rationing high paying jobs:
(a) hiring anyone
(b) corruption
(c) nepotism
(d) featherbedding

5. Which kind of worker has no protection?
(a) states employees
(b) employees of a conglomerate
(c) workers with no possible employer
(d) federal employees

Short Answer Questions

1. Open Market Operations refers to:

2. Equality before God means:

3. The Federal Reserve Act was legislated in:

4. The equality of outcomes approach is based on:

5. A deposit represents:

(see the answer key)

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