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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 uses the example of selling ______ to demonstrate a true global economy.
(a) Rice.
(b) Oil.
(c) Corn.
(d) Wheat.
2. According to Friedman, what is liberty's greatest enemy?
(a) The educational system.
(b) Concentration of power.
(c) The Federal government.
(d) Elected leaders.
3. The thought that the best use of government spending would be on useless projects is known as ______.
(a) "Evening it out."
(b) "Emptying the pot."
(c) "Steaming the water."
(d) "Filling holes."
4. Friedman makes the distinction between education and ______.
(a) Income.
(b) Instruction.
(c) Aging.
(d) Schooling.
5. How are decisions, for Friedman, made where unanimity is a costly way of making decisions?
(a) Decisions by committee.
(b) A system of checks and balances.
(c) Majority rule.
(d) Executive decision.
Short Answer Questions
1. What term refers to the circumstance under which the action of one individual imposes significant costs on other individuals for which it is not feasible to make him compensate them?
2. For Friedman, what is something that when privately owned can be used if the price is right?
3. In Friedman's time, what was illegal to buy or sell?
4. Originally, liberalism fought for freedom of thought, free-markets, free trade, constitutionalism, representative government, and ______.
5. Friedman states that the problem with teacher salaries is not that they are too low, but that they are ______.
Short Essay Questions
1. What is the modern day definition of liberalism?
2. What does Friedman believe to be the cause of the Great Depression?
3. What is the balance wheel theory?
4. What examples does Friedman give of when the Federal Reserve System mismanaged the money supply?
5. What was the definition of liberalism prior to 1900?
6. Does Friedman believe that most societies have been free or not free?
7. What is meant by "paternalistic grounds"?
8. What is meant when Friedman states "Government as rule-maker and umpire"?
9. Explain the externalities argument that Friedman describes for government involvement in education
10. How does Friedman explain government's role in a free society?
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This section contains 632 words (approx. 3 pages at 300 words per page) |
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