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

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

2. Kenneth B. Clark describes public school system as:
(a) protected public monopolies
(b) superior to private schools
(c) inferior to private schools
(d) on the same level as private schools

3. 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

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

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

Short Answer Questions

1. Before the formation of the ICC, the railroad industry experienced all but the following:

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

3. What does Friedman call one of the most successful labor unions in history?

4. Government spending can be financed by all but:

5. According to Friedman what was not a reason for accelerated U.S. monetary growth over a fifteen-year period?

Short Essay Questions

1. Explain the relationship between the economic policy and the intellectual climate?

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

3. Who benefits the most from a school voucher program?

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

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

6. What are Friedman's views regarding big government?

7. Do all workers benefit from unions?

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

9. What have parents been complaining of in recent years regarding public education?

10. Who led the effort for public education?

(see the answer keys)

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