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

2. What does the Texas Railroad Commission enforce?
(a) Cattle in fields near railway lines.
(b) Transportation of goods by rail.
(c) Output of oil wells.
(d) Number of trains on the rails.

3. According to Friedman, who benefits from licensure?
(a) Aspirants.
(b) Licensed practitioners.
(c) Clients.
(d) Customers.

4. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?
(a) ACLU.
(b) ACSA.
(c) FCC.
(d) NAACP.

5. Forming a list of who engages in what is known as ______.
(a) Listing.
(b) Organizing.
(c) Licensing.
(d) Registration.

Short Answer Questions

1. Which of the following can be justified by Friedman for government interventions?

2. What does Friedman believe is an appropriate rate of increase for the Federal Reserve?

3. Friedman believes that government that has the power to do good, also has the power to do ______.

4. One role of government argued by the New Deal was to ______.

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

(see the answer key)

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