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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. Three levels of control are licensing, registration, and ______.
(a) Initiation.
(b) Certification.
(c) Recognition.
(d) Acceptance.

2. Who said, "There is much ruin in a nation"?
(a) Milton Friedman.
(b) Adam Smith.
(c) Carl Menger.
(d) John Maynard Keynes.

3. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?
(a) ACLU.
(b) ACSA.
(c) FCC.
(d) NAACP.

4. Friedman simply states that to alleviate poverty, we should have a program directed at ______.
(a) Regulation of charitable giving.
(b) Price subsidies.
(c) Helping the poor.
(d) Providing work programs.

5. According to Friedman, what is one unknown negative effect of farm subsidies?
(a) Increase in production of cotton.
(b) A hindrance to the pursuit of foreign policy.
(c) A removal of three senate seats.
(d) An emphasis on educational testing.

Short Answer Questions

1. What specific social responsibility does Friedman condemn for corporations?

2. What is one method that governments have used to alter the distribution of income?

3. What has capitalism done for discrimination according to Friedman?

4. What is one example of a government supported monopoly?

5. What industry sector is most prevalent in monopoly?

Short Essay Questions

1. In Chapter 13, Friedman summarizes his examples. Which do you agree with?

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

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

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

5. According to Friedman, can a liberal be an egalitarian?

6. Friedman accepts the reasoning that justifies "governmental action to alleviate poverty" (p. 191). What two issues must be addressed in order for this to happen?

7. What is Friedman's recommendation regarding an income tax?

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. What is the problem for Friedman with fair employment commission legislation?

(see the answer keys)

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