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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 9, The Cure for Inflation.

Multiple Choice Questions

1. A tariff implemented to raise employment in the domestic nation:
(a) benefits all consumers
(b) benefits all workers
(c) has no effect on employment
(d) lowers employment in the foreign nation

2. Most of the funding for public education is provided by the:
(a) city
(b) county
(c) federal government
(d) state

3. Originally, in the early days of the country, equality meant:
(a) equality before God
(b) the basis for welfare legislation
(c) equality in all aspects of life
(d) the end of slavery

4. Most of the ICC staff came from the:
(a) legislature
(b) railroad industry
(c) stock market
(d) were laymen

5. The program that is proposed as a replacement for all welfare programs is the:
(a) free enterprise
(b) cradle to grave program
(c) welfare benefits program
(d) negative income tax program

Short Answer Questions

1. The Food and Drug Administration performs all of the following functions but:

2. The Interstate Commerce Commission was formed to regulate:

3. Government expands through all but:

4. The Principle of Comparative Advantage states that a nation should specialize in:

5. The Federal Reserve Act was legislated in:

(see the answer key)

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