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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 9, Occupational Licensure.

Multiple Choice Questions

1. Where does Friedman live?
(a) San Francisco.
(b) Chicago.
(c) New York.
(d) Philadelphia.

2. Friedman's theory is that monetary exchange rates will allow trades across countries to ______ in accord with those rates.
(a) Decrease.
(b) Stagnate.
(c) Equilibrate.
(d) Increase.

3. Friedman makes the distinction between education and ______.
(a) Instruction.
(b) Income.
(c) Schooling.
(d) Aging.

4. What industry does Friedman use to argue against licensure?
(a) Medical.
(b) Economists.
(c) Teachers.
(d) Attorneys.

5. Which type of education does Friedman not advocate the government paying for?
(a) Industrial.
(b) Liberal.
(c) Vocational.
(d) Minimal.

Short Answer Questions

1. What does Friedman use as an example of a use of government where individuals cannot consume individual amounts?

2. Who does Friedman believe maintains the system of licensure?

3. What major event does Friedman strongly believe was a result of the government mishandling the money supply?

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

5. For Friedman, where is the best place for power to be held?

(see the answer key)

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