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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. For Friedman, what is an all-embracing ethic?

2. What is the name of the system with the purpose of regulating monetary policy between leading countries?

3. What does Friedman assert is an example of an appropriate task for government?

4. Friedman believes that one governmental action that is justifiable is to set a ______ education level.

5. According to Friedman, the market enables wide diversity, meaning power can be located in ______.

Short Essay Questions

1. What is the multiplier effect?

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

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

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

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

6. Explain how international currency rates have changed since 1900.

7. Does Friedman believe that most societies have been free or not free?

8. What is the modern day definition of liberalism?

9. What does Friedman think of the remark, "Ask not what your country can do for you, ask what you can do for your country"?

10. How does Friedman explain government's role in a free society?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Chapter 7 is arguably Friedman's most controversial chapter because of his views of government intervention in discrimination. Friedman, the free market capitalist, believes that government should not have laws based on race and people should be free to shop, purchase, and hire wherever they choose. Analyze Friedman's argument and examine the historical examples he gives to support his opinion.

Essay Topic 2

Friedman makes a clear distinction between the historical usage of the term liberal and the present day definition. Compare and contrast the different uses of the term liberal.

Essay Topic 3

Friedman disagrees with the multiplier effect, a Keynesian theory, reasoning for government spending. Analyze the multiplier effect and examine the man who propagates the theory, John Maynard Keynes.

(see the answer keys)

This section contains 653 words (approx. 3 pages at 300 words per page) View a FREE sample