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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. Horace Mann is known as all but the following:
(a) Secretary of State
(b) the father of American public education
(c) secretary of the Massachusetts State Board of Education
(d) crusader for free schools

2. The purpose of urban renewal projects is to:
(a) eliminate slums
(b) provide low cost housing
(c) build housing projects
(d) finance the building of offices

3. Inflation results when:
(a) the money supply increases less rapidly than the level of output
(b) the money supply increases more rapidly than the level of output
(c) the money supply and the output level increase at the same rate
(d) there is no relation between output level and money supply

4. Which of the following is not a problem experienced by the British National Health Service?
(a) long waiting lists of patients
(b) lack of citizen interest
(c) rising costs
(d) strikes

5. Which of the following is not a function of the price system:
(a) government established prices
(b) efficient use of resources
(c) distribution of income
(d) transmitting information

Short Answer Questions

1. The Environmental Protection Agency was formed in:

2. Equality before God means:

3. The first head of the Federal Reserve System was:

4. A school voucher program would:

5. In terms of goods, the price of money:

(see the answer key)

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