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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

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

3. What program would allow greater choices for parents?
(a) the school voucher program
(b) being able to select any school
(c) making all education private
(d) sending children to private schools

4. As a result of inflation:
(a) consumers buy more goods and services
(b) consumers feel richer
(c) one dollar buys fewer goods and services
(d) one dollar buys more goods and services

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

Short Answer Questions

1. Objections to the school voucher plan include all but the following:

2. Attendance at school became mandatory in all states in:

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

4. Regarding public and private colleges and universities, the number of students who complete the undergraduate degrees is:

5. Where have labor unions been stronger than they are in the United States?

Short Essay Questions

1. What does Friedman feel has been more damaging that government spending in terms of government controls?

2. What can function as money?

3. What is the purpose given for regulation of industry?

4. In recent years, in what sector have unions experienced growth?

5. According to Friedman, what policy would promote economic stability?

6. What effect do special interest groups have upon government?

7. What is the scope of the Consumer Products Safety Commission?

8. What is the purpose of a labor union?

9. What is the big advantage of the school voucher programs?

10. In what way does the market function to protect consumers?

(see the answer keys)

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