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. What major event does Friedman strongly believe was a result of the government mishandling the money supply?
(a) Prohibition.
(b) None of the answers is correct.
(c) World War I.
(d) The Great Depression.

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

3. What does Friedman believe is an appropriate rate of increase for the Federal Reserve?
(a) None. That is not a goal of the Federal Reserve.
(b) 3%-5%.
(c) 5%-7%.
(d) 1%-3%.

4. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?
(a) Advances in education.
(b) Increae in leisure time.
(c) Advances in entertainment.
(d) Advances in technology.

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

Short Answer Questions

1. Friedman makes the distinction between education and ______.

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

3. Who does Friedman believe is most critical of capitalism?

4. What example does Friedman use to argue against the redistribution of wealth?

5. Which of the following does Friedman dispute?

(see the answer key)

This section contains 236 words (approx. 1 page at 300 words per page) View a FREE sample