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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7, Capitalism and Discrimination.

Multiple Choice Questions

1. What major event does Friedman strongly believe was a result of the government mishandling the money supply?
(a) World War I.
(b) The Great Depression.
(c) Prohibition.
(d) None of the answers is correct.

2. Friedman advocates the end of ______.
(a) Capitalism.
(b) The free market.
(c) Exchange rates.
(d) Export quotas.

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

4. What does Friedman prefer when it comes to exchange rates?
(a) Sinking exchange rates.
(b) Floating exchange rates.
(c) Hovering exchange rates.
(d) Rising exchange rates?

5. In Friedman's analysis, what century is the historical exception to most men living in tyranny, servitude, and misery?
(a) 20th.
(b) 19th.
(c) 17th.
(d) 18th.

Short Answer Questions

1. What caused all the major nations to abandon the gold standard?

2. Friedman believes that vocational and professional schools should be totally ______ run.

3. Friedman suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?

4. If forced to choose between segregation or integration, which would Friedman choose?

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

(see the answer key)

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