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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 8, Who Protects the Worker?.

Multiple Choice Questions

1. Private education prevailed until the:
(a) 1920s
(b) 1940s
(c) 1950s
(d) 1930s

2. In what ways does competition protect the consumer?
(a) through the honesty of sellers
(b) consumers will not continually buy shoddy products
(c) by the information provided with the product
(d) by advertising

3. At the time the book was written, how many workers belonged to unions?
(a) one in four
(b) one in five
(c) one in two
(d) one in three

4. What problems have there been with unions?
(a) not enough members
(b) fraud
(c) salaries lag the non-union sector
(d) misuse and misappropriation of funds

5. Which of the following is not one of Adam Smith's duties of government?
(a) administration of justice
(b) correct for third party effects
(c) protection of members of society who are not responsible, such as children
(d) protect members from coercion

Short Answer Questions

1. The economist that changed the way of economic thinking regarding depressions was:

2. The reason given for regulation of industry is to:

3. Government subsidies to industry are viewed as:

4. The command elements of every economy include things like:

5. The country whose post-World War II domestic policy was aimed at promoting equality of outcomes is:

(see the answer key)

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