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Name: _________________________ | Period: ___________________ |
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 13, Conclusion.
Multiple Choice Questions
1. How are decisions, for Friedman, made where unanimity is a costly way of making decisions?
(a) Executive decision.
(b) Majority rule.
(c) Decisions by committee.
(d) A system of checks and balances.
2. Friedman defines a country as a collection of ______.
(a) Citizens.
(b) Ideals.
(c) Leaders.
(d) Individuals.
3. According to Friedman, the essence of a competitive market is its ______ character.
(a) Private.
(b) Public.
(c) Impersonal.
(d) Trustworthy.
4. Friedman states that ______ is a generator of inequality.
(a) Unemployment.
(b) Taxation.
(c) Redistribution.
(d) Social security.
5. What is the term for currency not being traded for any amount of another currency?
(a) None of the answers is correct.
(b) Inconvertible.
(c) Irreversible.
(d) Unconvertible.
Short Answer Questions
1. According to Friedman, which of the following is the least bad?
2. Friedman suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?
3. By Friedman's account, the market permits unanimity without ______.
4. A key component of the government spending is the ______.
5. According to Friedman, what is liberty's greatest enemy?
This section contains 187 words (approx. 1 page at 300 words per page) |
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