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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 does FEPC stand for?
(a) Future Exercises for Preventing Catastrophes.
(b) Fair Employment Practice Commission.
(c) Fixing Economic Policy for Capitalism.
(d) Finding Education and People Cooperatively.

2. According to Friedman, Social security measures were enacted to make receipt of assistance a matter of ______.
(a) Authority.
(b) Principle.
(c) Right.
(d) Paperwork.

3. Friedman advocates ______ income of the poor.
(a) Reducing.
(b) Supplanting.
(c) Supplementing.
(d) Taxing.

4. If forced to choose between segregation or integration, which would Friedman choose?
(a) A combination.
(b) Segregation.
(c) Integration.
(d) Neither.

5. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?
(a) Teacher and professor.
(b) Baseball player and basketball player.
(c) Doctor and priest.
(d) Blues singer and opera singer.

Short Answer Questions

1. What is the key issue for Friedman with annuities?

2. What prefix were New Dealers commonly called?

3. In Chapter 12, The Alleviation of Poverty, what two things does Friedman say a person cannot be at the same time?

4. Friedman would agree that racism is ______.

5. Another threat for Friedman to the preservation and expansion of freedom is:

Short Essay Questions

1. What does Friedman believe are the effects of farm price supports?

2. What does Friedman assert that capitalism has done for inequalities?

3. In Chapter 13, Friedman summarizes his examples. Which do you disagree with?

4. Who are the biggest advocates of occupational licensure that Friedman describes?

5. According to Friedman, do monopolies have any sort of "social responsibility"?

6. What are the three primary forms of monopoly?

7. Do you think doctors should be required to obtain a license?

8. According to Friedman, is there any justification for government intervention when it comes to distributing wealth?

9. Do you think people should be forced to participate in social security?

10. Do you agree or disagree with Friedman's flat tax proposal?

(see the answer keys)

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