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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7, Who Protects the Consumer?.

Multiple Choice Questions

1. One of the big complaints of parents is that they:
(a) have little control or choice regarding their children's education
(b) parents are asked to do too much with the school given their busy schedules
(c) spend too much time in parent-teacher conferences
(d) the school day is too short

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

3. A change in prices affects all but the following:
(a) procedures income
(b) nothing
(c) incentrive to act on information
(d) wages

4. The purpose of urban renewal projects is to:
(a) build housing projects
(b) provide low cost housing
(c) eliminate slums
(d) finance the building of offices

5. A school voucher program would:
(a) lower taxes
(b) have no effect on taxes paid
(c) raise taxes
(d) increase the costs of education

Short Answer Questions

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

2. What words did Thomas Jefferson write?

3. Enforced equality is a part of life in:

4. What action did the Fed take after England abandoned the gold standard?

5. Black Thursday, October 24, 1929, refers to the:

(see the answer key)

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