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

Multiple Choice Questions

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

2. What problem did Dicey write about in 1914?
(a) Prenatal and infant care.
(b) Veteran's health benefits.
(c) Education for all.
(d) Old age pensions.

3. Friedman believes that one governmental action that is justifiable is to set a ______ education level.
(a) Standard.
(b) Rational.
(c) Minimum.
(d) Maximum.

4. According to Friedman, whom does free trade benefit?
(a) The wealthier trading country.
(b) The poorer trading country.
(c) Both trading countries.
(d) Neither trading country.

5. Who does Friedman think can abuse licensure?
(a) Special interest groups.
(b) Those applying for the licenses.
(c) An elite few in power.
(d) Educational institutions.

Short Answer Questions

1. Regarding certification, what does Friedman stress increases sales?

2. According to Friedman, what is the Federal Reserve lacking?

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

4. Friedman advocates the end of ______.

5. What is the major disadvantage Friedman describes of the proposed negative income tax?

(see the answer key)

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