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

2. What does Friedman believe needs protection in order for the freedom of the market to arise?
(a) Government.
(b) Religion.
(c) Citizens.
(d) Contracts.

3. According to Friedman, which of the following is the least bad?
(a) Private regulation.
(b) Public regulation.
(c) Private monopoly.
(d) Public monopoly.

4. According to Friedman, what is the Federal Reserve lacking?
(a) A Magna Carta of sorts.
(b) A Declaration of Independence of sorts.
(c) A Constitution of sorts.
(d) A Rosetta Stone of sorts.

5. According to Friedman, the essence of a competitive market is its ______ character.
(a) Public.
(b) Private.
(c) Impersonal.
(d) Trustworthy.

Short Answer Questions

1. Friedman suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?

2. What is the key issue for Friedman with annuities?

3. Which of the following is not an example of social welfare?

4. Friedman asserts that the Federal Reserve created the major contractions of the following years except______.

5. According to Friedman, what is liberty's greatest enemy?

(see the answer key)

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