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Notes -
And if you look at the actual content of the test, you will note that you are entirely correct that it's not a test of "how well have you internalized the principles of economics", it's a test of "do you agree with Bryan Caplan's politics".
"Do you agree with [professor]" is the subject of every university-level exam.
Oh come now.
I had a philosophy class in undergrad with a professor who had published extensively on a particular topic in philosophy of mind, and he was quite proud to be known as one of the leading experts in his particular sub-field. For my final paper in the class I ended up disagreeing extensively with his views - and he let me know this by writing a thorough rebuttal for almost every paragraph in my paper - but he still gave me an A because he thought my paper was well argued.
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some of the questions are weirdly worded too, like this one
He means asymmetric information or default structure that benefits the borrower , thus incentivizes higher education, which it's plausible he is right. But it's more like an article of faith than something rigorous.
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