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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. For Friedman, what is an all-embracing ethic?
(a) Freedom.
(b) Government.
(c) Education.
(d) Religion.
2. What major event does Friedman strongly believe was a result of the government mishandling the money supply?
(a) Prohibition.
(b) The Great Depression.
(c) World War I.
(d) None of the answers is correct.
3. According to Friedman, it can be argued that private schools ______ class distinctions, and therefore need government intervention.
(a) Exacerbate.
(b) Increase.
(c) Maintain.
(d) Diminish.
4. What caused all the major nations to abandon the gold standard?
(a) World War I.
(b) The Great Depression.
(c) World War II.
(d) Decline in the value of gold.
5. What does Friedman believe needs protection in order for the freedom of the market to arise?
(a) Government.
(b) Religion.
(c) Contracts.
(d) Citizens.
Short Answer Questions
1. In the market described by Friedman, exchanges between households are ______.
2. Friedman hypothesizes that the change from free market societies to economic controlled ones led classical liberals to worry that it would ______ political freedom.
3. According to Friedman, whom does free trade benefit?
4. Friedman asserts that government is needed for the ______.
5. In Friedman's opinion, what will check government power?
Short Essay Questions
1. What is meant by "paternalistic grounds"?
2. What examples does Friedman give of when the Federal Reserve System mismanaged the money supply?
3. What is the relationship Friedman describes between economic freedom and political freedom?
4. Where does Friedman believe power in government should be located?
5. Explain the paternalistic argument that Friedman describes for government involvement in education.
6. What is the multiplier effect?
7. Explain "floating exchange rates."
8. What examples does Friedman give of appropriate roles of government in a free society?
9. What is Friedman's definition of political freedom? Of economic freedom?
10. What is the modern day definition of liberalism?
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This section contains 572 words (approx. 2 pages at 300 words per page) |
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