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

2. In Great Britain:
(a) labor unions are weak
(b) most labor unions represent workers of nationalized industry
(c) there are no labor unions
(d) workers represent themselves

3. Equality of outcomes is related to:
(a) right to own property
(b) rights to open a business
(c) education
(d) fairness or fair shares

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

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

Short Answer Questions

1. Union high wages are usually at the expense of:

2. What does Friedman call one of the most successful labor unions in history?

3. Equality before the law refers to all but:

4. Which of the following is considered a form of government assistance to construction workers?

5. When the Fed sells bonds:

(see the answer key)

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