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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 13, Conclusion.

Multiple Choice Questions

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

2. According to Friedman, Social security measures were enacted to make receipt of assistance a matter of ______.
(a) Right.
(b) Principle.
(c) Authority.
(d) Paperwork.

3. Which term describes the purpose of federal spending?
(a) "Balance beam."
(b) None of the answers is correct.
(c) "Balance wheel."
(d) "Seesaw."

4. According to Friedman, a liberal will welcome measures that promote what?
(a) Freedom and equality.
(b) Power and politics.
(c) Wealth and freedom.
(d) Elimination of poverty.

5. Which of the following, for Friedman, is the most important factor for the Federal Reserve?
(a) Loans and lending practices.
(b) Stability.
(c) Economic growth.
(d) Regulation of the market.

Short Answer Questions

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

2. Where does Friedman live?

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

4. Friedman states that the problem with teacher salaries is not that they are too low, but that they are ______.

5. Which of the following is not an example of social welfare?

(see the answer key)

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