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

2. Open Market Operations refers to:
(a) a department store sale
(b) flooding the market with junk bonds
(c) stock market operations
(d) the purchase and sale of government bonds

3. Free trade takes place when:
(a) when producers want to see a good
(b) when consumers want a good
(c) when one party can benefit
(d) all parties feel they can benefit

4. Some people support tariffs because they think that tariffs:
(a) lower prices
(b) result in increased efficiency
(c) offer protection for consumer
(d) create jobs

5. The Federal Deposit Insurance Corporation:
(a) guarantees deposits against a loss up to a stated amount
(b) guarantees the repayment of bank loans
(c) provides mortgage insurance for homeowners
(d) guarantees the full amount of all deposits against loss

Short Answer Questions

1. A tariff implemented to raise employment in the domestic nation:

2. A deposit represents:

3. Government interferes with the price system by:

4. What interferes with the transmittal of information by prices?

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

(see the answer key)

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