Name: _________________________ | Period: ___________________ |
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5, Fiscal Policy.
Multiple Choice Questions
1. In Friedman's mind, why is centralization attractive to many?
(a) Consolidation of power.
(b) Government can promote the public interest.
(c) Better pool of resources.
(d) Streamlined services.
2. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.
(a) Free.
(b) Suppressed.
(c) Unfree.
(d) Autonomic.
3. One role of government argued by the New Deal was to ______.
(a) Even out economic cycles.
(b) Regulate military spending.
(c) Eliminate excessive alcohol drinking.
(d) Provide subsidies for the poor.
4. Friedman defines a country as a collection of ______.
(a) Ideals.
(b) Leaders.
(c) Individuals.
(d) Citizens.
5. Friedman's analysis of government argues that it is not ______.
(a) Reductionary.
(b) Expansionary.
(c) Contractionary.
(d) Stagnantary.
Short Answer Questions
1. In Friedman's time, what was illegal to buy or sell?
2. According to Friedman, what is one problem with government stimulus during a recession?
3. What is one example of a negative externality?
4. Friedman hypothesizes that the change from free market societies to economic controlled ones led classical liberals to worry that it would ______ political freedom.
5. For Friedman, what is something that when privately owned can be used if the price is right?
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