View a FREE sample

This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 10, The Tide is Turning.

Multiple Choice Questions

1. The airline industry is regulated by:
(a) the Civil Aeronautics Board
(b) the Department of Transportation
(c) the Air Force
(d) none of the above

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

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

4. Adam Smith wrote:
(a) The Price System
(b) The Wealth of Nations
(c) Das Kapital
(d) Economic Made Simple

5. An economic contraction means all but the following:
(a) unemployment
(b) lower levels of income
(c) decreased output
(d) increased output

Short Answer Questions

1. Fair shares programs penalize the:

2. A market failure occurs when:

3. The first schools were:

4. What did Alexis de Tocqueville say was the outstanding characteristic of America?

5. A run on a bank occurs when depositors:

(see the answer key)

This section contains 214 words (approx. 1 page at 300 words per page) View a FREE sample