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. Friedman makes the distinction between education and ______.
(a) Income.
(b) Schooling.
(c) Aging.
(d) Instruction.

2. What example does Friedman use to argue against the redistribution of wealth?
(a) The Swiss Family Robinson.
(b) Davey Crockett.
(c) Mark Twain.
(d) Robinson Crusoe.

3. Friedman claims there is no connection between equal treatment and what?
(a) Equal shares of income.
(b) Equal protection.
(c) Equal opportunity.
(d) Equal rights.

4. One role of government argued by the New Deal was to ______.
(a) Eliminate excessive alcohol drinking.
(b) Provide subsidies for the poor.
(c) Regulate military spending.
(d) Even out economic cycles.

5. Friedman believes that the goddess of chance is ______.
(a) Deaf.
(b) Blind.
(c) Skilled.
(d) Dead.

Short Answer Questions

1. What term refers to the Federal Reserve's ability to produce more money than is deposited?

2. According to Friedman, what cannot exist without a literate and informed population?

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

4. Friedman states that ______ is a generator of inequality.

5. According to Friedman, what is the goal of government intervention regarding the distribution of income?

(see the answer key)

This section contains 197 words (approx. 1 page at 300 words per page) View a FREE sample