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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. Friedman states that government should be ______.
(a) Incorporated.
(b) Decentralized.
(c) Streamlined.
(d) Consolidated.
2. What does Friedman believe will markets do over time to monopolies?
(a) Make them obsolete.
(b) Separate them slowly.
(c) Break them up.
(d) Strengthen them.
3. According to Friedman, what is liberty's greatest enemy?
(a) The Federal government.
(b) Elected leaders.
(c) Concentration of power.
(d) The educational system.
4. The thought that the best use of government spending would be on useless projects is known as ______.
(a) "Filling holes."
(b) "Steaming the water."
(c) "Emptying the pot."
(d) "Evening it out."
5. Friedman asserts that current liberalism is tied to the state management of ______.
(a) The educational system.
(b) The electoral vote.
(c) The economy.
(d) Social welfare.
Short Answer Questions
1. Friedman believes that all of the following are appropriate for fiscal policy except ______.
2. One question Friedman asks is how we can stop government from destroying ______.
3. Friedman defines a country as a collection of ______.
4. What does Friedman assert is an example of an appropriate task for government?
5. A key component of the government spending is the ______.
Short Essay Questions
1. Concerning business cycles that Friedman explains, what is one role of government?
2. How does Friedman argue that floating exchange rates can affect international trade?
3. What was the definition of liberalism prior to 1900?
4. What is the modern day definition of liberalism?
5. What is meant when Friedman states "Government as rule-maker and umpire"?
6. According to Friedman what is the role of government?
7. What examples does Friedman give of when the Federal Reserve System mismanaged the money supply?
8. Explain how international currency rates have changed since 1900.
9. What is the balance wheel theory?
10. Explain Friedman's voucher proposal.
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This section contains 636 words (approx. 3 pages at 300 words per page) |
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