What are the advantages and disadvantages of a multiple choice test as compared to a short answer or essay test?

Answers are 150-200 words for each question.
1) What are the advantages and disadvantages of a multiple choice test as compared to a short answer or essay test? Explain your answer
2) Define self-efficacy and self-esteem. How are these concepts different? Which appears to be more important when raising children who will someday seek out careers of their own? Why is this the case?