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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7, Capitalism and Discrimination.

Multiple Choice Questions

1. Friedman believes that vocational and professional schools should be totally ______ run.
(a) Governmentally.
(b) Cooperatively.
(c) Privately.
(d) Publicly.

2. 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?
(a) The common principle.
(b) The neighborhood effect.
(c) The future growth principle.
(d) The colleague effect.

3. What example does Friedman use to demonstrate his views on employment practices?
(a) A grocer.
(b) A blacksmith.
(c) A baker.
(d) A lawyer.

4. According to Friedman, it can be argued that private schools ______ class distinctions, and therefore need government intervention.
(a) Increase.
(b) Exacerbate.
(c) Maintain.
(d) Diminish.

5. For Friedman, what is an all-embracing ethic?
(a) Religion.
(b) Government.
(c) Education.
(d) Freedom.

Short Answer Questions

1. What does Friedman claim that governments abuse?

2. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?

3. What is one way Friedman believes some people criticize markets?

4. Friedman makes the distinction between education and ______.

5. Friedman believes that one governmental action that is justifiable is to set a ______ education level.

(see the answer key)

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