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 asserts that the Federal Reserve created the major contractions of the following years except______.
(a) 1937-38.
(b) 1920-21.
(c) 1929-33.
(d) 1926-27.

2. According to Friedman, what is lost when foreign exchange is controlled by the government?
(a) Educational freedom.
(b) Religious freedom.
(c) Economic freedom.
(d) Political freedom.

3. According to Friedman, the market enables wide diversity, meaning power can be located in ______.
(a) Large pockets with limited interests.
(b) Small pockets of individual actors.
(c) The hands of many.
(d) The hands of a few.

4. Friedman believes that government that has the power to do good, also has the power to do ______.
(a) Right.
(b) Wrong.
(c) Nothing.
(d) Bad.

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

Short Answer Questions

1. Who does Friedman state rejects the view that the government is the patron or master of the citizenry?

2. Which term refers to the government stimulating spending?

3. In Friedman's opinion, what will check government power?

4. Which of the following, for Friedman, is the most important factor for the Federal Reserve?

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

(see the answer key)

This section contains 229 words (approx. 1 page at 300 words per page) View a FREE sample