Capitalism and Freedom Quiz | One Week Quiz A

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 10, The Distribution of Income.

Multiple Choice Questions

1. According to Friedman, it can be argued that private schools ______ class distinctions, and therefore need government intervention.
(a) Exacerbate.
(b) Maintain.
(c) Increase.
(d) Diminish.

2. Friedman states that the problem with teacher salaries is not that they are too low, but that they are ______.
(a) Computed based on seniority.
(b) The same regardless of quality.
(c) Linked to the amount of education the teacher has.
(d) Not inclusive of benefits.

3. Friedman claims there is no connection between equal treatment and what?
(a) Equal shares of income.
(b) Equal opportunity.
(c) Equal rights.
(d) Equal protection.

4. Which of the following, for Friedman, is the most important factor for the Federal Reserve?
(a) Economic growth.
(b) Loans and lending practices.
(c) Regulation of the market.
(d) Stability.

5. One solution Friedman proposes is to give parents ______ for schooling.
(a) Vouchers.
(b) Coupons.
(c) Tokens.
(d) Credits.

Short Answer Questions

1. According to Friedman, what cannot exist without a literate and informed population?

2. What term refers to the circumstance under which the action of one individual imposes significant costs on other individuals for which it is not feasible to make him compensate them?

3. What does Friedman claim that governments abuse?

4. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?

5. What major event does Friedman strongly believe was a result of the government mishandling the money supply?

(see the answer key)

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