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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

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

2. According to Friedman, the way to cure inflation is to:

3. According to Friedman what was not a reason for accelerated U.S. monetary growth over a fifteen-year period?

4. The railroads:

5. What problems have there been with unions?

Short Essay Questions

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

2. After the Depression and the centralization of government, education and schooling also became centralized. What are the effects of this centralization?

3. What can function as money?

4. What does Friedman feel has been more damaging that government spending in terms of government controls?

5. What is the purpose of a labor union?

6. What is the big advantage of the school voucher programs?

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

8. According to Friedman, what policy would promote economic stability?

9. As America was settled, what was one of the first things communities established?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Friedman says that special interests generally prevail over general interests. What does he mean by this? Do you agree with him? Why or why not?

Essay Topic 2

What is the significance of free international trade? Why is free trade said to be best? How do nations benefit from free trade? What is the Principle of Comparative Advantage?

Essay Topic 3

Evaluate the school voucher program. Do you think it is a good idea? Who benefits the most from the program and why?

(see the answer keys)

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