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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. An economic contraction means all but the following:
(a) lower levels of income
(b) increased output
(c) unemployment
(d) decreased output
2. A market failure occurs when:
(a) a producer goes bankrupt
(b) the production of a good is discontinued
(c) a producer finds there is no demand for his good
(d) an action or transaction affects third parties
3. The first head of the Federal Reserve System was:
(a) J.P. organ
(b) Benjamin Strong
(c) Alan Greenspan
(d) Alexander Hamilton
4. Enforced equality is a part of life in:
(a) apartment buildings
(b) communes
(c) schools
(d) government
5. Most of the funding for public education is provided by the:
(a) federal government
(b) city
(c) state
(d) county
Short Answer Questions
1. The major welfare program in the United States is:
2. Private education prevailed until the:
3. The Food and Drug Administration performs all of the following functions but:
4. The country whose post-World War II domestic policy was aimed at promoting equality of outcomes is:
5. Which bank failure precipitated the banking crisis of 1930?
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This section contains 189 words (approx. 1 page at 300 words per page) |
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