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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. After World War II government expansion was due to:
(a) commerce
(b) nationalization of industry
(c) finance
(d) central economic planning

2. The first head of the Federal Reserve System was:
(a) Alexander Hamilton
(b) J.P. organ
(c) Benjamin Strong
(d) Alan Greenspan

3. The equality of outcomes approach is based on:
(a) fair shares for everyone
(b) incentive
(c) rewarding those who work hard
(d) contribution to output

4. The programs of the Roosevelt administration designed to deal with the Depression are called the:
(a) balanced budget programs
(b) New Deal programs
(c) laissez-faire programs
(d) financial assistance programs

5. The Great Depression began in:
(a) 1940
(b) 1931
(c) 1929
(d) 1934

Short Answer Questions

1. Government subsidies to industry are viewed as:

2. What kind of international trade is best?

3. Government interferes with the price system by:

4. The distribution of income is determined by all but the following:

5. The legislation for the Federal Reserve System came into being as a result of:

(see the answer key)

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