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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 Federal Reserve Act was legislated in:
(a) 1929
(b) 1909
(c) 1913
(d) 1908

2. The only kind of capital:
(a) is only physical capital
(b) are human and physical capital
(c) is only financial capital
(d) is only human capital

3. What interferes with the transmittal of information by prices?
(a) actions of sellers
(b) actions of manufacturers
(c) actions of buyers
(d) Governmental control of prices

4. Protection refers to:
(a) insurance on shipments
(b) safe production methods
(c) insurance and benefits for workers
(d) tariffs and other trade restrictions

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

Short Answer Questions

1. When the Fed sells bonds:

2. Which of the following is not one of Adam Smith's duties of government?

3. Government subsidies to industry are viewed as:

4. A coordinated restriction of payments by banks is used:

5. Free international trade results in better relations between individuals who differ in all but:

(see the answer key)

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