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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 does Friedman say can government not duplicate?
(a) The creativity of the individual.
(b) The power of local control.
(c) An international monitoring system.
(d) The free market economic system.

2. The original balancing thought is based on whose economic philosophy?
(a) Krugman.
(b) Keynes.
(c) Marx.
(d) Smith.

3. Friedman advocates that government should not be a master, but a/an ______.
(a) Slave.
(b) Mechanism.
(c) Instrument.
(d) Philosophy.

4. By Friedman's account, the market permits unanimity without ______.
(a) Freedom.
(b) Resentment.
(c) Solitude.
(d) Conformity.

5. A major point for Friedman is that politics and economics are not ______.
(a) Separate.
(b) Together.
(c) United.
(d) Autonomous.

Short Answer Questions

1. One role of government argued by the New Deal was to ______.

2. Friedman's evidence suggests that for every $100 of government spending, a certain amount is added to income. How much?

3. Friedman states that government should be ______.

4. Friedman defines a country as a collection of ______.

5. Friedman asserts that government is needed for the ______.

(see the answer key)

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