Free to Choose: A Personal Statement Test | Final Test - Easy

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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. The ideas of human freedom and economic freedom are best exemplified in:
(a) India
(b) England
(c) the United States
(d) Germany

2. The first schools were:
(a) private with mandatory attendance
(b) public with voluntary attendance
(c) private with voluntary attendance
(d) `public with mandatory attendance

3. In Western nations, when a government doesn't achieve its economic goals:
(a) they keep trying
(b) there is usually a change of regimes
(c) the situation continues
(d) nothing happens

4. In Great Britain, the post World War II trend has been toward:
(a) Communism
(b) Fabian socialism and New Deal liberalism
(c) liberal capitalism
(d) laissez-faire

5. What items have not functioned as money over time:
(a) beads
(b) metals
(c) Cowrie shells
(d) dirt

6. The airline industry is regulated by:
(a) the Air Force
(b) the Civil Aeronautics Board
(c) the Department of Transportation
(d) none of the above

7. Steps to limit the growth of government and spending have included all but:
(a) proposed constitutional amendment to limit spending
(b) nothing
(c) a call for a convention to formulate a balanced budget amendment
(d) the formation of organizations to support limited spending

8. Gresham's Law says that:
(a) bad money drives out good
(b) good money multiplies
(c) good money decreases
(d) good money drives out bad

9. The Interstate Commerce Commission was formed to regulate:
(a) railroads
(b) trucking
(c) trade between states
(d) air traffic

10. The school voucher program would give the parents:
(a) a tax bill
(b) a tax break
(c) a voucher to be used at any school
(d) cash

11. As a result of inflation, there is:
(a) more goods and services to buy
(b) an increase in prices
(c) decrease in prices
(d) no change in prices

12. Which of the following laws is not specifically aimed at protection of workers?
(a) minimum wage legislation
(b) length of workweek
(c) workmen's compensation
(d) Medicaid

13. Printing new money to increase the quantity of money is:
(a) highly inflationary
(b) the only way most governments can survive
(c) good economic policy
(d) good for stability

14. Barter:
(a) is the exchange ratio of money
(b) is the exchange of money for goods and services
(c) establishes the value of money
(d) is the exchange of one good or service for another good or service

15. According to Friedman what was not a reason for accelerated U.S. monetary growth over a fifteen-year period?
(a) rapid growth in government spending
(b) the Federal Reserve following the wrong policy
(c) the full employment policy of the government
(d) workers demanding raises

Short Answer Questions

1. A school voucher program would:

2. The union does all but the following for its members:

3. The purpose of the EPA is to:

4. Which of the following is considered a form of government assistance to construction workers?

5. Who has the greatest amount of choice in the selection of schooling?

(see the answer keys)

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