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Student Quizzes
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1
Usury is:
A)a price giving a moderate profit.
B)the practice of lending money for interest.
C)the charging of relatively low rates of interest.
D)a lack of charity.
2
The belief that hard work and adherence to a set of virtues such as thrift, saving, and sobriety would bring wealth and God's approval is known as:
A)Protestant ethic.
B)Confucian ethic.
C)positivism.
D)functionalism.
3
The political reform movement that arose among farmers in the late 1800s was the:
A)global justice movement.
B)socialistic movement.
C)populist movement.
D)progressive movement.
4
Socialism is a(n):
A)economic system in which the means of production are privately owned and operated for profit.
B)political philosophy which considers the state undesirable, unnecessary, and harmful.
C)doctrine that seeks to organize a nation according to corporatist perspectives, values, and systems.
D)doctrine of a classless society in which property is collectively owned and income from labor is equally divided among members.
5
_____ is a term that denotes both the ideology of using markets to organize society and a set of policies to free markets from state intrusion.
A)Populism
B)Neoliberalism
C)Embedded liberalism
D)Capitalism
6
The philosophy of an open society in which the state does not interfere with rights of individuals is known as:
A)federalism.
B)radicalism.
C)embedded liberalism.
D)liberalism.
7
Economic liberalism is:
A)a word that denotes both the ideology of using markets to organize society and a set of specific policies to free markets from state intrusion.
B)the philosophy that social progress comes when individuals freely pursue their self-interests in unregulated markets.
C)the philosophy that active state intervention can stabilize the economy and stimulate employment.
D)the philosophy of an open society in which the state does not interfere with rights of individuals.
8
_____ argued that markets could be managed to dampen business cycles and promote full employment.
A)John Maynard Keynes
B)Milton Friedman
C)Friedrich Hayek
D)Margaret Thatcher
9
The name given to Milton Friedman, his colleagues, and to the free market doctrine they taught is:
A)Austrian School.
B)positivist school.
C)conflict school.
D)Chicago School.
10
What is a boycott?
A)A command, directive, or order.
B)A domestic penalty applied by one country on another for a variety of reasons.
C)A call to pressure a company by not buying its products and services.
D)An authoritative order having the force of law.







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