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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 11, Social Welfare Measures.

Multiple Choice Questions

1. According to Friedman, what are licenses restrictions on?
(a) The age of those who are licensed.
(b) The qualifications of those doing the hiring.
(c) Who may hire whom.
(d) What schools professionals may attend.

2. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?
(a) Teacher and professor.
(b) Blues singer and opera singer.
(c) Baseball player and basketball player.
(d) Doctor and priest.

3. In Chapter 3, what does Friedman provide a history of?
(a) American monetary policy.
(b) British colonialism.
(c) World War I.
(d) The Federal Reserve System.

4. Who does Friedman state rejects the view that the government is the patron or master of the citizenry?
(a) The educated man.
(b) The free man.
(c) The rich man.
(d) The poor man.

5. What is one factor that Friedman believes has reduced inequality?
(a) Educational opportunities.
(b) Advances in technology.
(c) Government intervention.
(d) Civil Rights laws.

Short Answer Questions

1. Which of the following, for Friedman, is the most important factor for the Federal Reserve?

2. What is the term for laws that forbid membership in a union a requirement for employment?

3. Friedman would agree that racism is ______.

4. What does Friedman believe is one drawback of the Federal Reserve having so much power?

5. Friedman makes the distinction between education and ______.

(see the answer key)

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