View a FREE sample

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

Multiple Choice Questions

1. A market failure occurs when:
(a) the production of a good is discontinued
(b) an action or transaction affects third parties
(c) a producer finds there is no demand for his good
(d) a producer goes bankrupt

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

3. International trade theory is based on:
(a) geography
(b) inflows and outflows
(c) the principle of comparative advantage
(d) the principle of absolute advantage

4. Free international trade results in better relations between individuals who differ in all but:
(a) beliefs
(b) attitudes
(c) interests
(d) nationalities

5. Which of the following is not a New Deal program?
(a) unemployment insurance
(b) social security
(c) public assistance
(d) Great Society

Short Answer Questions

1. Which New Deal programs were declared unconstitutional?

2. The Great Depression began in:

3. Free markets lead to:

4. Which of the following is not a function of the price system:

5. The programs of the Roosevelt administration designed to deal with the Depression are called the:

(see the answer key)

This section contains 195 words (approx. 1 page at 300 words per page) View a FREE sample