View a FREE sample

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

Multiple Choice Questions

1. Which of the following is not a New Deal program?
(a) Great Society
(b) unemployment insurance
(c) social security
(d) public assistance

2. The Principle of Comparative Advantage states that a nation should specialize in:
(a) the production of goods in which it is relatively more efficient than the other nation
(b) can get the highest price for
(c) all goods
(d) has the most of

3. One way of restricting entry to an occupation or profession is through:
(a) agreement
(b) licensure
(c) laws
(d) rules

4. A coordinated restriction of payments by banks is used:
(a) to stop a run on banks
(b) intensify a run on banks
(c) faster a monetary expansion
(d) meet the public's demands for currency

5. Government interferes with the price system by:
(a) restraints on international trade
(b) ignoring it
(c) tariffs
(d) action fixing

Short Answer Questions

1. According to Friedman, who is most likely to produce a shoddy product?

2. The Federal Reserve Act was legislated in:

3. Which of the following is not a function of the price system:

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

5. Interested sophistry refers to:

(see the answer key)

This section contains 223 words (approx. 1 page at 300 words per page) View a FREE sample