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. Which of the following is not a way of rationing high paying jobs:
(a) nepotism
(b) hiring anyone
(c) corruption
(d) featherbedding

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

3. Most of the ICC staff came from the:
(a) legislature
(b) stock market
(c) were laymen
(d) railroad industry

4. What does Friedman believe would be an effective way of reversing the trend toward bigger government?
(a) eliminating special interest groups
(b) adoption of an economic Bill of Rights
(c) new legislation
(d) limiting budgets

5. Government policies are affected by:
(a) personal desires
(b) the desire of the press
(c) the intellectual climate
(d) money

6. Special interest groups result in:
(a) better legislation for everyone
(b) common support for good causes
(c) higher costs
(d) a reduction in costs

7. What must an interstate public carrier have in order to operate?
(a) certificate of public convenience and necessity
(b) a big trucking company
(c) none of the above
(d) permission from the state

8. The purpose of the Consumer Products Safety Commission is to:
(a) protect the consumer from unsafe products
(b) to help advertise products
(c) to help introduce new products
(d) assist manufacturers in the promotion of products

9. To function as a medium of exchange, an item must be:
(a) printed
(b) accepted in exchange for goods and services
(c) easy to carry
(d) valuable

10. All but one of the following are the result of the growth of government:
(a) higher costs
(b) more paperwork
(c) lower costs
(d) more special interest groups

11. Washington D.C.:
(a) limits the number of lawyers
(b) is a magnet for special interest groups
(c) prohibits lobbyists
(d) limits the number of special interests groups

12. In the tobacco economy, inflation occurred when there was:
(a) no tobacco
(b) too little tobacco
(c) they switched to wampum
(d) too much tobacco

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

14. Where have labor unions been stronger than they are in the United States?
(a) Spain
(b) Germany
(c) France
(d) Great Britain

15. In the mid-nineteenth century, the intellectual beliefs favored:
(a) government control of the economy
(b) public ownership
(c) limited international trade
(d) free trade and private enterprise

Short Answer Questions

1. The growth of bureaucracy leads to:

2. Friedman believes that the income tax system is:

3. Which of the following is a method of government enforcing higher wages?

4. What program would allow greater choices for parents?

5. During a hyperinflation:

(see the answer keys)

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