Capitalism and Freedom Quiz | Four Week Quiz B

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 11, Social Welfare Measures.

Multiple Choice Questions

1. What is one argument Friedman gives for public housing?
(a) The neighborhood effect.
(b) The law of supply effect.
(c) The law of demand effect.
(d) The paternalism effect.

2. Friedman believes that ______ are no argument for nationalizing the provision of annuities.
(a) Wealth redistributions.
(b) Economies of scale.
(c) Income stabilizations.
(d) Opportunity costs.

3. What is the basic problem of social life for Friedman?
(a) How to tax and provide responsively for the people.
(b) How to coordinate the economic activities of large numbers of individuals.
(c) How to distribute wealth equitably.
(d) How to provide for entertainment opportunities.

4. Which type of education does Friedman not advocate the government paying for?
(a) Vocational.
(b) Liberal.
(c) Minimal.
(d) Industrial.

5. Friedman's theory is that monetary exchange rates will allow trades across countries to ______ in accord with those rates.
(a) Stagnate.
(b) Increase.
(c) Decrease.
(d) Equilibrate.

Short Answer Questions

1. Friedman theorizes that in extreme cases where parents don't pay for schooling, the government could provide a ______.

2. Friedman advocates that government should not be a master, but a/an ______.

3. In Friedman's mind, why is centralization attractive to many?

4. What is one factor that Friedman believes has reduced inequality?

5. What does Friedman believe coordinates individuals over vast distances and across all belief systems?

(see the answer key)

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