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

Multiple Choice Questions

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

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

3. In what decades did intellectuals in the United States consider capitalism to be defective?
(a) 1900s and '10s.
(b) 1930s and '40s.
(c) 1920s and '30s.
(d) 1940s and '50s.

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

5. Labor unions are referred to as ______.
(a) Monopoly in government.
(b) Monopoly in industry.
(c) Monopoly in labor.
(d) Produced monopoly.

Short Answer Questions

1. A key component of the government spending is the ______.

2. For Friedman, what is something that when privately owned can be used if the price is right?

3. What effect has Friedman observed that public housing has had on juvenile delinquency?

4. What does Friedman use as an example of a use of government where individuals cannot consume individual amounts?

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

(see the answer key)

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