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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. Policies based on fair shares or 'to each according to his needs' have resulted in severe lack of liberties in all but the following:
(a) United States
(b) China
(c) Cambodia
(d) Russia

2. The United States banking system is:
(a) a fractional reserve system
(b) a full reserve system
(c) not dependent on reserves
(d) a no reserve system

3. The legislation for the Federal Reserve System came into being as a result of:
(a) the collapse of the stock market
(b) runs on banks
(c) public works programs
(d) the Great Depression of 1909

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

5. All but the following have resulted from centralization in schooling:
(a) larger scale units
(b) less choice for consumers
(c) more choice for consumers
(d) increased power for administrators

Short Answer Questions

1. A deposit represents:

2. The school voucher program would give the parents:

3. Barter:

4. The purpose of the EPA is to:

5. What kind of international trade is best?

(see the answer key)

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