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

2. When the Fed sells bonds:
(a) the banks can make more loans
(b) the economy experiences inflation
(c) the monetary reserves of the banking system decrease
(d) depositors see a decline in their bank accounts

3. Union high wages are usually at the expense of:
(a) other workers
(b) all workers
(c) other union members
(d) no one

4. The words equality and liberty come from the:
(a) common usage
(b) dictionary
(c) Declaration of Independence
(d) welfare legislation

5. Equality before God means:
(a) total freedom
(b) the right to an equal income
(c) the right to do whatever one wants
(d) personal equality

Short Answer Questions

1. A run on a bank occurs when depositors:

2. Black Thursday, October 24, 1929, refers to the:

3. The Great Depression began in:

4. Which of the following laws is not specifically aimed at protection of workers?

5. Which bank failure precipitated the banking crisis of 1930?

(see the answer key)

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