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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 13, Conclusion.

Multiple Choice Questions

1. What effect has Friedman observed that public housing has had on juvenile delinquency?
(a) Spread it out.
(b) Increased it.
(c) Reduced it.
(d) Maintained it.

2. What industry sector is most prevalent in monopoly?
(a) Service.
(b) Manufacturing.
(c) Textile.
(d) Shipping.

3. Who said, "There is much ruin in a nation"?
(a) Adam Smith.
(b) Carl Menger.
(c) Milton Friedman.
(d) John Maynard Keynes.

4. What does Friedman believe is an appropriate rate of increase for the Federal Reserve?
(a) 5%-7%.
(b) 1%-3%.
(c) None. That is not a goal of the Federal Reserve.
(d) 3%-5%.

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

Short Answer Questions

1. Which type of education does Friedman not advocate the government paying for?

2. Friedman's belief is that what cause would free trade substantially promote, both domestically and internationally?

3. Which of the following cannot be justified by Friedman for government interventions?

4. To what previous restrictions on labor does Friedman compare licenses?

5. Friedman asserts that government restriction centralizes ______.

(see the answer key)

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