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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4, Cradle to Grave.

Multiple Choice Questions

1. The first thing Roosevelt did after his inauguration was to:
(a) authorize open market operations
(b) order people to work
(c) raise taxes on profits
(d) order banks to close for a bank holiday

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

3. The term human capital refers to the:
(a) personal productive capacity of an individual
(b) machinery in the factory
(c) kinds of inputs the worker uses
(d) output produced by a fasting

4. Prices function to transmit information to all but:
(a) sellers
(b) manufacturerr
(c) no one in particular
(d) buyers

5. A run on a bank occurs when depositors:
(a) try to withdraw their money in cash at the same time
(b) the bank refuses to make loans
(c) depositors refuse to deposit money
(d) depositors refuse loans

Short Answer Questions

1. The Federal Deposit Insurance Corporation:

2. After World War II there was a lot of interest in:

3. Adam Smith says that voluntary exchange will not take place unless:

4. New Deal temporary programs included all but:

5. When the Fed sells bonds:

(see the answer key)

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