Recessions that follow financial crises tend to be severe in ...

	A.	output
	B.	unemployment
	C.	both in output and unemployment
	D.	neither output nor unemployment

Whether central banks can provide emergency credit more efficiently than other financial organizations is...

	A.	unknown
	B.	a certainty
	C.	unclear
	D.	a near certainty

Governments have strategic incentives to renege on property right protection in service of their own interests.

True

False

What makes the Mises-Hayek story so important is...

	A.	fundamental contributions in political theory
	B.	how they recast economic history
	C.	not leading free-markets
	D.	errors have real costs

Capital and labor must be reallocated in the most productive use of resources must be rediscovered in response to changes in tastes, technology changes, or resource changes.

True

False

It does not matter if a more constrained course of action would have worked in response to the crisis.

True

False

It is not the intentions of the policymakers that matter when determining if a policy follows its intent.

True

False

Why are central banks uniquely capable of providing emergency loans to commercial banks during panics?

	A.	they are responsible for the quantity of money in the system.
	B.	panics are caused by unexpected withdrawals from banks
	C.	they are opposite commercial banks under normal circumstances
	D.	financial crises are national

Crises generate a tremendous amount of uncertainty for investors of businesses. Extraordinary monetary interventions...

	A.	guarantee improvements in certainty
	B.	only add that uncertainty
	C.	do not affect uncertainty
	D.	reduce uncertainty