View a FREE sample

This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 11, Social Welfare Measures.

Multiple Choice Questions

1. Friedman theorizes that in extreme cases where parents don't pay for schooling, the government could provide a ______.
(a) Discount.
(b) Subsidy.
(c) Allowance.
(d) Pass.

2. In Friedman's eyes, individual activities correspond to game players as the framework of law corresponds to______.
(a) Finishers of the game.
(b) Rulers of the game.
(c) Players of the game.
(d) Leaders of the game.

3. For Friedman, what is something that when privately owned can be used if the price is right?
(a) Media.
(b) Educational systems.
(c) Taxes.
(d) Political campaigns.

4. Friedman believes that all of the following are appropriate for fiscal policy except ______.
(a) Fluctuating in spending based on the political climate.
(b) Planning for stable tax rates.
(c) Spending based on community priorities.
(d) Avoiding erratic changes in spending.

5. Friedman asserts that government restriction centralizes ______.
(a) Elitism.
(b) Power.
(c) Goods.
(d) Wealth.

Short Answer Questions

1. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.

2. Which type of monopoly does Friedman believe is least bad?

3. Friedman uses the example of selling ______ to demonstrate a true global economy.

4. What does Friedman believe will become self-regulating?

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

(see the answer key)

This section contains 216 words (approx. 1 page at 300 words per page) View a FREE sample