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

2. Regarding public and private colleges and universities, the number of students who complete the undergraduate degrees is:
(a) higher at public institutions
(b) only slightly higher at pubhlic institutions
(c) the same at public and private institutions
(d) higher at private institutions

3. The reason given for regulation of industry is to:
(a) force higher prices
(b) stabilize the industry
(c) protect the industry from the effects of competition
(d) protect the consumer

4. The minimum wage causes:
(a) social unrest
(b) higher employment levels
(c) no effect on employment levels
(d) unemployment

5. Union high wages are usually at the expense of:
(a) no one
(b) all workers
(c) other union members
(d) other workers

6. One way of restricting entry to an occupation or profession is through:
(a) licensure
(b) rules
(c) laws
(d) agreement

7. According to Friedman, who is most likely to produce a shoddy product?
(a) both government and private enterprise
(b) government
(c) consumers won't accept a shoddy product
(d) private enterprise

8. Attendance at school became mandatory in all states in:
(a) 1875
(b) 1923
(c) 1900
(d) 1918

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

10. Which of the following is not a method of unions securing higher wages?
(a) enforcing a higher wage
(b) the free market
(c) restricting jobs
(d) collusion with the employer

11. Which of the following is considered a form of government assistance to construction workers?
(a) Taft-Hartley Act
(b) Glass-Stegal Act
(c) Davis-Bacon Act
(d) Landrum-Griffin Act

12. What does Friedman call one of the most successful labor unions in history?
(a) carpenters
(b) the AMA
(c) plumbers
(d) autoworkers

13. The trucking industry was brought under ICC jurisdiction in:
(a) 1943
(b) 1935
(c) 1952
(d) 1948

14. What do higher union wages cause?
(a) no change in prices
(b) lower prices
(c) higher prices
(d) more jobs

15. Government spending can be financed by all but:
(a) borrowing
(b) taxes
(c) increasing the money supply
(d) decreasing the money supply

Short Answer Questions

1. In the mid-nineteenth century, the intellectual beliefs favored:

2. All but one of the following are the result of the growth of government:

3. Parents who send their children to private schools:

4. Which of the following laws is not specifically aimed at protection of workers?

5. Horace Mann is known as all but the following:

(see the answer keys)

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