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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 9, The Cure for Inflation.

Multiple Choice Questions

1. During a hyperinflation:
(a) prices may double during a day
(b) none of the above
(c) wages increase faster than prices
(d) prices fail quickly

2. The term human capital refers to the:
(a) personal productive capacity of an individual
(b) kinds of inputs the worker uses
(c) output produced by a fasting
(d) machinery in the factory

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

4. Attendance at school became mandatory in all states in:
(a) 1900
(b) 1923
(c) 1918
(d) 1875

5. Parents who send their children to private schools:
(a) none of the above
(b) still pay taxes for public schools
(c) pay not taxes for public schools
(d) pay a lower amount of taxes for public schools

Short Answer Questions

1. What action did the Fed take after England abandoned the gold standard?

2. The first schools were:

3. What is a good source of information on prices and markets?

4. The Department of Energy was formed in response to the:

5. Free international trade results in better relations between individuals who differ in all but:

(see the answer key)

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