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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 the term for making non-membership in a union a condition of employment?
(a) Red-cat" contract.
(b) "Blue-bee" contract.
(c) "Green-bird" contract.
(d) "Yellow-dog" contract.

2. Friedman theorizes compulsory purchase of annuities has imposed ______ costs for ______ gains.
(a) Social, political.
(b) Large, little.
(c) Minimal, moderate.
(d) Little, large.

3. To what does Friedman equate competition?
(a) The Prime Meridian.
(b) A parallel line.
(c) A perpendicular line.
(d) A Euclidean line.

4. What does OASI stand for?
(a) Older and Simpler Issues.
(b) Old Age and Survivor's Insurance.
(c) Occupational Advocacy Standing Issues.
(d) Optimum and Standard Issuance.

5. Friedman theorizes that in extreme cases where parents don't pay for schooling, the government could provide a ______.
(a) Subsidy.
(b) Allowance.
(c) Discount.
(d) Pass.

Short Answer Questions

1. Which term refers to the government stimulating spending?

2. What is the term for currency not being traded for any amount of another currency?

3. Friedman believes that all of the following are appropriate for fiscal policy except ______.

4. Who does Friedman believe is most critical of capitalism?

5. What has capitalism done for discrimination according to Friedman?

(see the answer key)

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