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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. What does FEPC stand for?

2. Forming a list of who engages in what is known as ______.

3. In 1961, how much did the government spend on direct welfare payments and programs?

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

5. Who said, "There is much ruin in a nation"?

Short Essay Questions

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

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

3. What is occupational licensure?

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

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

6. What are the three forms of control discussed by Friedman in Chapter 9, Occupational Licensure?

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

8. Why does Friedman reject "right to work" laws?

9. Why is Friedman against fair employment laws?

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

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 describes the current international trade arrangements of his time. In Friedman's day, the value of currency was tied to the gold standard. This arrangement was known as the Bretton Woods system. Analyze this currency system. What is it? How did it work? What were the advantages and disadvantages of it? How does it compare with what we have in the present day?

Essay Topic 3

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.

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