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

Multiple Choice Questions

1. A tariff implemented to raise employment in the domestic nation:
(a) lowers employment in the foreign nation
(b) benefits all consumers
(c) has no effect on employment
(d) benefits all workers

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

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

4. The country whose post-World War II domestic policy was aimed at promoting equality of outcomes is:
(a) Great Britain
(b) China
(c) Japan
(d) Germany

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

Short Answer Questions

1. A deposit represents:

2. The national security argument for protection states that:

3. Enforced equality is a part of life in:

4. Equality before the law refers to all but:

5. An economic contraction means all but the following:

(see the answer key)

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