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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. In the mid-nineteenth century, the intellectual beliefs favored:
(a) government control of the economy
(b) free trade and private enterprise
(c) public ownership
(d) limited international trade

2. In Great Britain:
(a) labor unions are weak
(b) workers represent themselves
(c) there are no labor unions
(d) most labor unions represent workers of nationalized industry

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

4. In Friedman's view, special interests:
(a) promote the general interest
(b) are vital to the welfare of the economy
(c) should be eliminated
(d) prevail at the expense of the general interest

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

Short Answer Questions

1. During a hyperinflation:

2. Horace Mann is known as all but the following:

3. The school voucher program would give the parents:

4. Modern labor unions trace their roots back:

5. What do higher union wages cause?

Short Essay Questions

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

2. Explain how limiting the number of workers results in higher wages.

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

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

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

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

7. What is the scope of the Consumer Products Safety Commission?

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

9. What is inflation?

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

(see the answer keys)

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