Capitalism and Freedom Quiz | Eight Week Quiz D

This set of Lesson Plans consists of approximately 110 pages of tests, essay questions, lessons, and other teaching materials.

Capitalism and Freedom Quiz | Eight Week Quiz D

This set of Lesson Plans consists of approximately 110 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Capitalism and Freedom Lesson Plans
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5, Fiscal Policy.

Multiple Choice Questions

1. What is one example of a negative externality?
(a) Private education.
(b) Pollution.
(c) Welfare.
(d) Lack of voting.

2. Friedman asserts that government is needed for the ______.
(a) "Rules of the system."
(b) "Rules of the citizens."
(c) "Rules of the game."
(d) "Rules of the road."

3. One question Friedman asks is how we can stop government from destroying ______.
(a) Citizens.
(b) Taxes.
(c) Freedom.
(d) Entertainment.

4. According to Friedman, what is lost when foreign exchange is controlled by the government?
(a) Religious freedom.
(b) Political freedom.
(c) Economic freedom.
(d) Educational freedom.

5. How are decisions, for Friedman, made where unanimity is a costly way of making decisions?
(a) Majority rule.
(b) Decisions by committee.
(c) A system of checks and balances.
(d) Executive decision.

Short Answer Questions

1. Friedman argues against the theory that $100 in government spending will increase income by ______.

2. What is the basic problem of social life for Friedman?

3. Besides enforcing contracts, what one other thing does Friedman say government should do?

4. What does Friedman believe needs protection in order for the freedom of the market to arise?

5. Friedman believes that all of the following are appropriate for fiscal policy except ______.

(see the answer key)

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