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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3, The Anatomy of Crisis.

Multiple Choice Questions

1. What kind of international trade is best?
(a) no trade
(b) free trade
(c) partically free trade
(d) trade with restrictions

2. Which bank failure precipitated the banking crisis of 1930?
(a) Chase
(b) Bank of England
(c) The Bank of the United States
(d) Knickerbocker Trust

3. The economist that changed the way of economic thinking regarding depressions was:
(a) David Ricardo
(b) Milton Friedman
(c) John Maynard Keynes
(d) Adam Smith

4. A change in prices affects all but the following:
(a) incentrive to act on information
(b) procedures income
(c) wages
(d) nothing

5. The Great Depression began in:
(a) 1931
(b) 1929
(c) 1940
(d) 1934

Short Answer Questions

1. Free markets lead to:

2. Free trade takes place when:

3. Governments intervene in foreign currency markets:

4. Open Market Operations refers to:

5. A deposit represents:

(see the answer key)

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