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

Multiple Choice Questions

1. Friedman suggests constitutional amendments to limit government in all but the following areas:
(a) international trade
(b) qualificaiton of bureaucrats
(c) wage and price controls
(d) occupational licensure

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

3. What does Friedman call one of the most successful labor unions in history?
(a) plumbers
(b) autoworkers
(c) the AMA
(d) carpenters

4. Most Western nations have experienced:
(a) laws limited the growth of government
(b) decrease in the growth of government
(c) no change in the size of national government
(d) growth of national government

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

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

7. Most of the ICC staff came from the:
(a) stock market
(b) railroad industry
(c) legislature
(d) were laymen

8. One way of restricting entry to an occupation or profession is through:
(a) rules
(b) agreement
(c) laws
(d) licensure

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

10. Which of the following is considered a form of government assistance to construction workers?
(a) Landrum-Griffin Act
(b) Glass-Stegal Act
(c) Davis-Bacon Act
(d) Taft-Hartley Act

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

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

13. At the time the book was written, how many workers belonged to unions?
(a) one in five
(b) one in four
(c) one in two
(d) one in three

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

15. Private education prevailed until the:
(a) 1940s
(b) 1930s
(c) 1950s
(d) 1920s

Short Answer Questions

1. In the mid-nineteenth century, the intellectual beliefs favored:

2. The trucking industry was brought under ICC jurisdiction in:

3. Regarding public and private colleges and universities, the number of students who complete the undergraduate degrees is:

4. The ideas of human freedom and economic freedom are best exemplified in:

5. Which kind of worker has no protection?

(see the answer keys)

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