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. Friedman favors:
(a) limiting the growth of government
(b) expanding the scope of government
(c) more government controls
(d) bigger government

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

3. All but the following are functions of the CPSC:
(a) to help consumers evaluate products
(b) development of standards for consumer products
(c) advertising
(d) conduct safety tests on products

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

5. Which of the following is a method of government enforcing higher wages?
(a) minimum wage laws
(b) secret deals
(c) market wages
(d) none of the above

6. The Environmental Protection Agency was formed in:
(a) 1975
(b) 1966
(c) 1972
(d) 1970

7. Who has the greatest amount of choice in the selection of schooling?
(a) the middle income group
(b) the indigent
(c) the wealthy
(d) all have equal choice

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

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

10. Inflation results when:
(a) there is no relation between output level and money supply
(b) the money supply and the output level increase at the same rate
(c) the money supply increases more rapidly than the level of output
(d) the money supply increases less rapidly than the level of output

11. To improve their position, railroads engaged in:
(a) promotions
(b) good service
(c) rate fixing
(d) intensive advertising

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

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

14. The amount of time from the increase in the quantity of money and the rise in prices is about:
(a) immediate
(b) one year
(c) six months
(d) eighteen months

15. The regulation of employment practices and safety standards in the workplace is performed by:
(a) Office of Safety and Health Administration
(b) FEMA
(c) EPA
(d) Department of Labor

Short Answer Questions

1. A school voucher program would:

2. The Interstate Commerce Commission was formed to regulate:

3. What do higher union wages cause?

4. Which of the following is not a method of unions securing higher wages?

5. Most of the ICC staff came from the:

(see the answer keys)

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