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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. Friedman favors:
(a) more government controls
(b) expanding the scope of government
(c) limiting the growth of government
(d) bigger government

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

3. Union high wages are usually at the expense of:
(a) all workers
(b) other union members
(c) no one
(d) other workers

4. 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 more rapidly than the level of output
(d) the money supply increases less rapidly than the level of output

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

Short Answer Questions

1. In what ways does competition protect the consumer?

2. Wages increasing faster than productivity is:

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

4. What must an interstate public carrier have in order to operate?

5. At the time the book was written, how many workers belonged to unions?

Short Essay Questions

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

2. What are the political realities of a democratic system, according to Friedman?

3. What is the purpose of a labor union?

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

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

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

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

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

9. Who led the effort for public education?

10. What are the two big issues faced in new drug approval?

(see the answer keys)

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