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

2. What is one factor that Friedman believes has reduced inequality?
(a) Advances in technology.
(b) Educational opportunities.
(c) Government intervention.
(d) Civil Rights laws.

3. Instead of government spending, what does Friedman advocate the government use to stabilize the economy?
(a) Unemployment.
(b) Health care.
(c) Welfare.
(d) Taxes.

4. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.
(a) Free.
(b) Suppressed.
(c) Autonomic.
(d) Unfree.

5. What effect has Friedman observed that minimum wage laws have had on poverty?
(a) Increased it.
(b) Reduced it.
(c) Spread it out.
(d) Maintained it.

Short Answer Questions

1. In Chapter 3, what does Friedman provide a history of?

2. According to Friedman, what are licenses restrictions on?

3. Originally, liberalism fought for freedom of thought, free-markets, free trade, constitutionalism, representative government, and ______.

4. Friedman believes that ______ are no argument for nationalizing the provision of annuities.

5. The original balancing thought is based on whose economic philosophy?

(see the answer key)

This section contains 218 words (approx. 1 page at 300 words per page) View a FREE sample