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

Multiple Choice Questions

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

2. The union does all but the following for its members:
(a) negotiates wages
(b) pays for their on-the-job meals
(c) negotiates terms of employment
(d) represents them in a grievance hearing

3. Modern labor unions trace their roots back:
(a) Great Britain
(b) ancient Rome
(c) the Egyptians
(d) to medical men in ancient Greece

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

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

6. Washington D.C.:
(a) limits the number of lawyers
(b) is a magnet for special interest groups
(c) prohibits lobbyists
(d) limits the number of special interests groups

7. Government policies are affected by:
(a) money
(b) personal desires
(c) the intellectual climate
(d) the desire of the press

8. The Interstate Commerce Commission was formed to regulate:
(a) railroads
(b) air traffic
(c) trucking
(d) trade between states

9. What does Friedman believe would be an effective way of reversing the trend toward bigger government?
(a) new legislation
(b) adoption of an economic Bill of Rights
(c) limiting budgets
(d) eliminating special interest groups

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

11. 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

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

13. The reason given for regulation of industry is to:
(a) stabilize the industry
(b) force higher prices
(c) protect the industry from the effects of competition
(d) protect the consumer

14. What did Pat Brennan and her husband do in Rochester, New York?
(a) they challenged a postal increase
(b) they established a business that competed with the United States Post Office
(c) they became lobbyists
(d) they supported measures to limit the growth of business

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

Short Answer Questions

1. Steps to limit the growth of government and spending have included all but:

2. Most of the ICC staff came from the:

3. The Department of Energy was formed in response to the:

4. Most Western nations have experienced:

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

(see the answer keys)

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