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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 is not an example of social welfare?
(a) Public housing.
(b) Occupational licensure.
(c) Medicare.
(d) Minimum wage laws.

2. What industry sector is most prevalent in monopoly?
(a) Textile.
(b) Shipping.
(c) Manufacturing.
(d) Service.

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

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

5. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?
(a) Advances in technology.
(b) Advances in education.
(c) Advances in entertainment.
(d) Increae in leisure time.

Short Answer Questions

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

2. What is one example of a negative externality?

3. What type of society does Friedman believe is least materialistic?

4. One argument Friedman theorizes for Social Security is ______.

5. If forced to choose between segregation or integration, which would Friedman choose?

(see the answer key)

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