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

Multiple Choice Questions

1. Which of the following can be justified by Friedman for government interventions?
(a) The draft.
(b) Property rights.
(c) Subsidizing farm production.
(d) Minimum wage.

2. What is one argument Friedman gives for public housing?
(a) The law of supply effect.
(b) The paternalism effect.
(c) The law of demand effect.
(d) The neighborhood effect.

3. What does OASI stand for?
(a) Older and Simpler Issues.
(b) Occupational Advocacy Standing Issues.
(c) Old Age and Survivor's Insurance.
(d) Optimum and Standard Issuance.

4. What is one way Friedman believes some people criticize markets?
(a) It limits people's choices.
(b) It inequitably distributes wealth.
(c) It gives people what they want.
(d) It hurts those in power.

5. According to Friedman, what is liberty's greatest enemy?
(a) The Federal government.
(b) Concentration of power.
(c) The educational system.
(d) Elected leaders.

Short Answer Questions

1. If forced to choose between segregation or integration, which would Friedman choose?

2. According to Friedman, whom does free trade benefit?

3. In Friedman's mind, why is centralization attractive to many?

4. What effect has Friedman observed that minimum wage laws have had on poverty?

5. Instead of government spending, what does Friedman advocate the government use to stabilize the economy?

(see the answer key)

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