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

Multiple Choice Questions

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

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

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

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

5. 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

6. Attendance at school became mandatory in all states in:
(a) 1900
(b) 1918
(c) 1875
(d) 1923

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

8. Which of the following is considered a form of government assistance to construction workers?
(a) Glass-Stegal Act
(b) Davis-Bacon Act
(c) Landrum-Griffin Act
(d) Taft-Hartley Act

9. Most of the funding for public education is provided by the:
(a) city
(b) county
(c) state
(d) federal government

10. What do higher union wages cause?
(a) no change in prices
(b) lower prices
(c) higher prices
(d) more jobs

11. A school voucher program would:
(a) lower taxes
(b) raise taxes
(c) increase the costs of education
(d) have no effect on taxes paid

12. At the time the book was written, how many workers belonged to unions?
(a) one in five
(b) one in two
(c) one in four
(d) one in three

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

14. One of the big complaints of parents is that they:
(a) spend too much time in parent-teacher conferences
(b) the school day is too short
(c) parents are asked to do too much with the school given their busy schedules
(d) have little control or choice regarding their children's education

15. Government spending can be financed by all but:
(a) borrowing
(b) taxes
(c) increasing the money supply
(d) decreasing the money supply

Short Answer Questions

1. What is not one of the real forces that determine the wealth of a nation?

2. One way of restricting entry to an occupation or profession is through:

3. The railroads:

4. All but the following are functions of the CPSC:

5. Which kind of worker has no protection?

(see the answer keys)

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