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

Multiple Choice Questions

1. What must an interstate public carrier have in order to operate?
(a) permission from the state
(b) certificate of public convenience and necessity
(c) a big trucking company
(d) none of the above

2. The country whose post-World War II domestic policy was aimed at promoting equality of outcomes is:
(a) China
(b) Japan
(c) Great Britain
(d) Germany

3. What is a good source of information on prices and markets?
(a) The Wall Street Journal
(b) the Sunday paper
(c) word of mouth
(d) a weekly magazine

4. According to Friedman, the former Soviet economy was based on:
(a) voluntary cooperation
(b) none of the above
(c) free markets
(d) command

5. According to Friedman, the way to cure inflation is to:
(a) reduce the rate of monetary growth
(b) promote spending policies
(c) limit the amount of goods and services available for sale
(d) force consumers to increase their savings

Short Answer Questions

1. Attendance at school became mandatory in all states in:

2. The words equality and liberty come from the:

3. One of the big complaints of parents is that they:

4. Most Western nations have experienced:

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

(see the answer key)

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