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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 one major problem in interpreting the evidence on the distribution of income?

2. Friedman theorizes compulsory purchase of annuities has imposed ______ costs for ______ gains.

3. What example does Friedman use to demonstrate his views on employment practices?

4. What does the Texas Railroad Commission enforce?

5. What industry does Friedman use to explain his views on monopoly in labor?

Short Essay Questions

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

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

3. What is the progressive income tax?

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

5. What are the three primary forms of monopoly?

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

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

After describing the current international trade situation regarding government regulation of exchange rates and the price of gold, Friedman goes on to explain his free market solution. What is Friedman's solution? What are the positives and negatives with it? In your opinion, do you think it would work?

Essay Topic 2

Friedman argues against licensure in general. Examine Friedman's arguments against this topic and critique his examples.

Essay Topic 3

Friedman theorizes that actions taken by the government to reduce competition, restrict free choice and raise prices have a negative effect on society. Analyze the various forms of monopolies and what the government's role should be.

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