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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. Special interest groups result in:

2. Most of the ICC staff came from the:

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

4. Which of the following is considered a form of government assistance to construction workers?

5. Which of the following is not a way of rationing high paying jobs:

Short Essay Questions

1. Why do increases in the minimum wage result in unemployment?

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

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

4. In what way does the market function to protect consumers?

5. What is the purpose of a labor union?

6. In what ways is the American Medical Association a labor union?

7. Who led the effort for public education?

8. What is the purpose of the Environmental Protection Agency?

9. How do industries gain control, or capture, the commission that regulates them?

10. What does inflation mean for governments or people who are in debit?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What is the relationship between economic freedom and human freedom? How is this manifest in the kind of economic and political system that a nation has? Use different nations as an example.

Essay Topic 2

What is inflation? What are the causes of inflation? What are the cures for inflation? Distinguish between the causes of inflation and the side effects of the cure for inflation.

Essay Topic 3

The New Deal refers to a group of programs enacted by the Roosevelt Administration to deal with the Great Depression. How did they represent a break with past policies? What precedent did they set in the way of spending? What has happened to government spending since then?

(see the answer keys)

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