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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 makes the distinction between education and ______.
(a) Instruction.
(b) Income.
(c) Aging.
(d) Schooling.
2. Friedman believes that one governmental action that is justifiable is to set a ______ education level.
(a) Minimum.
(b) Standard.
(c) Maximum.
(d) Rational.
3. Friedman believes that government that has the power to do good, also has the power to do ______.
(a) Bad.
(b) Nothing.
(c) Right.
(d) Wrong.
4. Friedman advocates the end of ______.
(a) The free market.
(b) Exchange rates.
(c) Export quotas.
(d) Capitalism.
5. What does Friedman believe will become self-regulating?
(a) The gold standard.
(b) The World Bank.
(c) Monetary stocks.
(d) Exchange rates.
Short Answer Questions
1. Which term describes the purpose of federal spending?
2. Friedman believes that economic control can lead to infringements on ______.
3. By Friedman's account, the market permits unanimity without ______.
4. In Friedman's opinion, what will check government power?
5. Friedman asserts that current liberalism is tied to the state management of ______.
Short Essay Questions
1. What does Friedman think of the remark, "Ask not what your country can do for you, ask what you can do for your country"?
2. What are Friedman's recommendations in order for stocks to become self-regulating?
3. What is meant by "paternalistic grounds"?
4. How does Friedman explain government's role in a free society?
5. What reason does Friedman refute for government spending?
6. Concerning business cycles that Friedman explains, what is one role of government?
7. Explain "floating exchange rates."
8. What is the balance wheel theory?
9. Where does Friedman believe power in government should be located?
10. What is meant when Friedman states "Government as rule-maker and umpire"?
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This section contains 575 words (approx. 2 pages at 300 words per page) |
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