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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. The Food and Drug Administration performs all of the following functions but:
(a) writing prescriptions
(b) advertising requirements
(c) testing new drugs
(d) labeling requirements

2. What is not one of the real forces that determine the wealth of a nation?
(a) mode of political and economic organization
(b) productivity
(c) geographic area
(d) resources

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

4. Steps to limit the growth of government and spending have included all but:
(a) proposed constitutional amendment to limit spending
(b) a call for a convention to formulate a balanced budget amendment
(c) the formation of organizations to support limited spending
(d) nothing

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

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

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

8. In Virginia in the 1600s, what functioned as money?
(a) wampum
(b) gold
(c) tobacco
(d) beads

9. Parents who send their children to private schools:
(a) pay not taxes for public schools
(b) none of the above
(c) still pay taxes for public schools
(d) pay a lower amount of taxes for public schools

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

11. Who would benefit the most from an increased quality of schooling from a school voucher program?
(a) the middle income classes
(b) lower income classes
(c) all income classes would benefit equally
(d) the upper income classes

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

13. Which of the following laws is not specifically aimed at protection of workers?
(a) Medicaid
(b) length of workweek
(c) minimum wage legislation
(d) workmen's compensation

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

15. The Department of Energy was formed in response to the:
(a) to produce oil
(b) series of energy crises in the 1970s
(c) formation of OPEC
(d) the need for oil

Short Answer Questions

1. The railroads:

2. To improve their position, railroads engaged in:

3. The school voucher program would give the parents:

4. The airline industry is regulated by:

5. A school voucher program would:

(see the answer keys)

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