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

2. What industry does Friedman use to explain his views on monopoly in labor?
(a) Auto.
(b) Steel.
(c) Coal.
(d) Manufacturing.

3. Which term refers to the government stimulating spending?
(a) "Prime the pump."
(b) "Charge the battery."
(c) "Rev the engine."
(d) "Grease the skids."

4. Friedman asserts that government is needed for the ______.
(a) "Rules of the system."
(b) "Rules of the road."
(c) "Rules of the citizens."
(d) "Rules of the game."

5. In Friedman's opinion, what should individuals be allowed to do?
(a) Pursue their own ends.
(b) Print their own money.
(c) Elect their own leaders.
(d) Choose their own religion.

Short Answer Questions

1. Friedman's evidence suggests that for every $100 of government spending, a certain amount is added to income. How much?

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

3. What is one example Friedman uses to demonstrate his point on monopoly in industry?

4. Besides enforcing contracts, what one other thing does Friedman say government should do?

5. What does Friedman believe will become self-regulating?

(see the answer key)

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