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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. Another threat for Friedman to the preservation and expansion of freedom is:
(a) An internal threat of licensure requirements.
(b) An internal threat of government regulation.
(c) An internal threat of labor unions.
(d) An internal threat of unfair political practices.

2. What is the major reason Friedman asserts why government intervention has had the opposite of the intended effects?
(a) A wealthy few have made the majority of the decisions for the minority.
(b) People in power only seek political gains.
(c) People attempt to promote their own interests.
(d) People do not abide by the rules of the government.

3. Forming a list of who engages in what is known as ______.
(a) Registration.
(b) Listing.
(c) Licensing.
(d) Organizing.

4. Friedman claims there is no connection between equal treatment and what?
(a) Equal shares of income.
(b) Equal rights.
(c) Equal protection.
(d) Equal opportunity.

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

Short Answer Questions

1. What example does Friedman give for one argument for registration?

2. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?

3. What problem did Dicey write about in 1914?

4. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?

5. What is one factor that Friedman believes has reduced inequality?

Short Essay Questions

1. What recommendations would Friedman give to a president about an economic downturn?

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

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

4. What are the three sources of monopoly?

5. What does Friedman believe are the effects of minimum wage laws?

6. If people were given cash instead of subsidies like food stamps, how might they would use it to get themselves out of poverty, and how might it be wasted?

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

8. What are two problems with monopolies for the liberal?

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

10. Why is Friedman against fair employment laws?

(see the answer keys)

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