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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. What major event does Friedman strongly believe was a result of the government mishandling the money supply?
(a) None of the answers is correct.
(b) The Great Depression.
(c) Prohibition.
(d) World War I.

2. Friedman's belief is that what cause would free trade substantially promote, both domestically and internationally?
(a) Regulation.
(b) Freedom.
(c) Currency exchange.
(d) Political power.

3. Friedman asserts that government is needed for the ______.
(a) "Rules of the citizens."
(b) "Rules of the system."
(c) "Rules of the road."
(d) "Rules of the game."

4. According to Friedman, the market enables wide diversity, meaning power can be located in ______.
(a) The hands of many.
(b) The hands of a few.
(c) Large pockets with limited interests.
(d) Small pockets of individual actors.

5. One role of government argued by the New Deal was to ______.
(a) Provide subsidies for the poor.
(b) Even out economic cycles.
(c) Regulate military spending.
(d) Eliminate excessive alcohol drinking.

Short Answer Questions

1. One of Friedman's claims for government involvement in education asserts that there are ______ to education.

2. Which of the following cannot be justified by Friedman for government interventions?

3. In Friedman's opinion, what should individuals be allowed to do?

4. Who does Friedman state rejects the view that the government is the patron or master of the citizenry?

5. Instead of government spending, what does Friedman advocate the government use to stabilize the economy?

Short Essay Questions

1. Friedman explains that the economic activities of large numbers of individuals can be coordinated. In what two ways?

2. What is meant by "paternalistic grounds"?

3. What is meant when Friedman states "Government as rule-maker and umpire"?

4. Explain Friedman's voucher proposal.

5. What does Friedman believe to be the cause of the Great Depression?

6. Concerning business cycles that Friedman explains, what is one role of government?

7. According to Friedman what is the role of government?

8. Explain the price system as described by Friedman.

9. What examples does Friedman give of appropriate roles of government in a free society?

10. Explain the paternalistic argument that Friedman describes for government involvement in education.

(see the answer keys)

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