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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. In Western nations, when a government doesn't achieve its economic goals:

2. What items have not functioned as money over time:

3. Printing new money to increase the quantity of money is:

4. Which of the following is a method of government enforcing higher wages?

5. Which of the following is not a method of unions securing higher wages?

Short Essay Questions

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

2. What is inflation?

3. What effect do special interest groups have upon government?

4. What is the purpose of a labor union?

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

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

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Friedman believes that government spending is less damaging than other forms of government controls. What are these other forms of government controls and why are they damaging? Do you agree with Friedman?

Essay Topic 2

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 3

Why was the Depression of 1929 so severe? What factors contributed to it? Are these similarities with the situation today? What are the differences?

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