View a FREE sample

This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5, Created Equal.

Multiple Choice Questions

1. The equality of outcomes approach is based on:
(a) contribution to output
(b) rewarding those who work hard
(c) fair shares for everyone
(d) incentive

2. A deposit represents:
(a) a claim against the bank
(b) money stuffed in a mattress
(c) a loan to the individual
(d) a liability of the individual

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

4. Originally, in the early days of the country, equality meant:
(a) equality before God
(b) the end of slavery
(c) equality in all aspects of life
(d) the basis for welfare legislation

5. When the Fed sells bonds:
(a) the banks can make more loans
(b) the economy experiences inflation
(c) depositors see a decline in their bank accounts
(d) the monetary reserves of the banking system decrease

Short Answer Questions

1. Equality before the law refers to all but:

2. Which of the following is not a public assistance program?

3. What is the cause of the failure of many welfare programs?

4. The infant industry argument for protection says a:

5. An exchange rate is the:

(see the answer key)

This section contains 243 words (approx. 1 page at 300 words per page) View a FREE sample