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. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?
(a) Blues singer and opera singer.
(b) Baseball player and basketball player.
(c) Doctor and priest.
(d) Teacher and professor.

2. What does Friedman advocate the abolition of in Chapter 10, The Distribution of Income?
(a) Welfare.
(b) Trade unions.
(c) Flat-rate income tax.
(d) Corporate income tax.

3. According to Friedman, what are licenses restrictions on?
(a) The age of those who are licensed.
(b) Who may hire whom.
(c) What schools professionals may attend.
(d) The qualifications of those doing the hiring.

4. Friedman's theory on government intervention is that government is needed to be what regarding disputes?
(a) Groundskeeper.
(b) Fan.
(c) Announcer.
(d) Umpire.

5. Friedman hypothesizes that there has been a change in discrimination along with the rise of capitalism because ______.
(a) Religion has argued equality on moral grounds.
(b) Greed has overtaken all ethical values.
(c) Contract arrangements replaced status as a source of wealth.
(d) There has been an increase in the population of skilled workers.

Short Answer Questions

1. The thought that the best use of government spending would be on useless projects is known as ______.

2. Friedman asserts that current liberalism is tied to the state management of ______.

3. What does Friedman believe will markets do over time to monopolies?

4. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?

5. Labor unions are referred to as ______.

(see the answer key)

This section contains 283 words (approx. 1 page at 300 words per page) View a FREE sample