View a FREE sample

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

Multiple Choice Questions

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

2. According to Friedman, what is the goal of government intervention regarding the distribution of income?
(a) Income equality.
(b) Job creation.
(c) Taxation.
(d) Social welfare.

3. In Chapter 3, what does Friedman provide a history of?
(a) The Federal Reserve System.
(b) British colonialism.
(c) American monetary policy.
(d) World War I.

4. What is one factor that Friedman believes has reduced inequality?
(a) Government intervention.
(b) Educational opportunities.
(c) Advances in technology.
(d) Civil Rights laws.

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

Short Answer Questions

1. Friedman believes that vocational and professional schools should be totally ______ run.

2. What does Friedman believe is an appropriate rate of increase for the Federal Reserve?

3. Friedman claims there is no connection between equal treatment and what?

4. What is one method that governments have used to alter the distribution of income?

5. 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?

(see the answer key)

This section contains 232 words (approx. 1 page at 300 words per page) View a FREE sample