View a FREE sample

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

Multiple Choice Questions

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

2. What problems have there been with unions?
(a) salaries lag the non-union sector
(b) not enough members
(c) fraud
(d) misuse and misappropriation of funds

3. In Great Britain, the post World War II trend has been toward:
(a) Communism
(b) Fabian socialism and New Deal liberalism
(c) liberal capitalism
(d) laissez-faire

4. In Western nations, when a government doesn't achieve its economic goals:
(a) there is usually a change of regimes
(b) nothing happens
(c) they keep trying
(d) the situation continues

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

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

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

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

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

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) the Federal Reserve following the wrong policy
(c) rapid growth in government spending
(d) workers demanding raises

11. Friedman believes that the income tax system is:
(a) based on ability to pay
(b) needs more loopholes
(c) equitable
(d) in need of reform

12. 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

13. Objections to the school voucher plan include all but the following:
(a) it would decrease the quality of education
(b) there would be an increase in total costs of education
(c) there is the possibility of fraud
(d) there might be a constitutional church-state issue

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

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

Short Answer Questions

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

2. The railroads:

3. One of the big complaints of parents is that they:

4. Which of the following is a method of government enforcing higher wages?

5. In terms of goods, the price of money:

(see the answer keys)

This section contains 552 words (approx. 2 pages at 300 words per page) View a FREE sample