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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5, Created Equal.

Multiple Choice Questions

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

2. A run on a bank occurs when depositors:
(a) the bank refuses to make loans
(b) depositors refuse to deposit money
(c) try to withdraw their money in cash at the same time
(d) depositors refuse loans

3. Governments intervene in foreign currency markets:
(a) by increasing imports
(b) by increasing exports
(c) by refusing to release currency to the market
(d) by buying and selling domenstic and foreign currency

4. A market failure occurs when:
(a) the production of a good is discontinued
(b) an action or transaction affects third parties
(c) a producer finds there is no demand for his good
(d) a producer goes bankrupt

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

Short Answer Questions

1. Which of the following is not a New Deal program?

2. Equality before God means:

3. When did the concepts of equality before God and the law begin to come closer together?

4. The New Deal programs were not carried to their completion because of:

5. The first thing Roosevelt did after his inauguration was to:

(see the answer key)

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