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

Multiple Choice Questions

1. According to Friedman, it can be argued that private schools ______ class distinctions, and therefore need government intervention.
(a) Increase.
(b) Maintain.
(c) Diminish.
(d) Exacerbate.

2. One argument Friedman theorizes for Social Security is ______.
(a) Paternalism.
(b) The neighborhood effect.
(c) The lost boys result.
(d) The economics of incentives argument.

3. What term describes the deliberate setting of prices through an agreement by firms?
(a) Free market.
(b) Monopoly.
(c) Labor unions.
(d) Collusion.

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

5. For Friedman, what is one major problem in interpreting the evidence on the distribution of income?
(a) Temporary vs. long run income status.
(b) Lack of data.
(c) Reliable empirical evidence.
(d) Defining poverty levels.

Short Answer Questions

1. According to Friedman, what is a necessary condition for political freedom?

2. Friedman states that ______ is a generator of inequality.

3. Instead of reducing inequality, Friedman states the income tax has favored ______.

4. Friedman believes that the goddess of chance is ______.

5. Friedman advocates the end of ______.

(see the answer key)

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