I had a similar problem when I built my bike. It turned out that I was over tightening the carb on the manifold with the screw. That was contorting the whole body of the carb enough, that the slide wouldn't go down into the carb. So it the slide was stuck wide open the whole time. I'd start the bike, then when I pulled in the clutched it would rev really high, scary high.
So thanks to these guys suggestions, I put a tiny spray of white lithium grease on the throttle body and brass slide. And I wrapped the end of the manifold with teflon tape to bulk it up in circumference, then put the carb on over that, and made sure not to tighten the screw too much. Then the throttle was able to return to closed like it was supposed to by pressure of the spring. The movement from closed to open, isn't all that much travel really, but you should be able to hear it moving up and down. And as 2door said if you pull the filter and look in, you should see it moving.
You never know, maybe loosening the screw a tiny bit would free up the slide. I originally had it screwed in really tight, resulting in the problem. Even though it seemed like tightening the carb on the manifold was the smart thing to do. It turns out its better to seal it with grey gasket sealer or silicone than over tightening it