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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. Which of the following is not a function of the price system:
(a) government established prices
(b) distribution of income
(c) transmitting information
(d) efficient use of resources

2. The price system functions in such a way that each individual acting in his own best interests, makes everyone better off. This concept is known as the:
(a) visible hand
(b) voluntary nature
(c) command
(d) invisible hand

3. What program would allow greater choices for parents?
(a) making all education private
(b) being able to select any school
(c) the school voucher program
(d) sending children to private schools

4. The purpose of the EPA is to:
(a) promote nicer looking neighborhoods
(b) protect and enhance the environment
(c) regulate landscaping
(d) promote safer working environments

5. To improve their position, railroads engaged in:
(a) intensive advertising
(b) promotions
(c) rate fixing
(d) good service

Short Answer Questions

1. Equality before the law refers to all but:

2. The regulation of employment practices and safety standards in the workplace is performed by:

3. Enforced equality is a part of life in:

4. Economic freedom refers to all but which of the following:

5. A market failure occurs when:

(see the answer key)

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