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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. What is one method that governments have used to alter the distribution of income?
(a) Real estate law.
(b) Selling bonds.
(c) Social welfare.
(d) Income taxation.

2. According to Friedman, what conflicts with one another for men?
(a) Economic interests.
(b) Religious beliefs.
(c) Absolute freedom.
(d) Political ideology.

3. What term refers to the argument for education that parents will not do best for their children?
(a) Sacrificial.
(b) Employment.
(c) Maternalistic.
(d) Paternalistic.

4. According to Friedman, what is the goal of government intervention regarding the distribution of income?
(a) Income equality.
(b) Job creation.
(c) Social welfare.
(d) Taxation.

5. How many problems with monopolies does Friedman describe?
(a) Four.
(b) Two.
(c) Three.
(d) One.

Short Answer Questions

1. What does Friedman prefer when it comes to exchange rates?

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

3. What is one example of a government supported monopoly?

4. What effect has public housing had on the density of people per dwelling?

5. According to Friedman, what cannot exist without a literate and informed population?

(see the answer key)

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