Capitalism and Freedom Quiz | Two Week Quiz A

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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. Friedman believes that vocational and professional schools should be totally ______ run.
(a) Privately.
(b) Cooperatively.
(c) Governmentally.
(d) Publicly.

2. For Friedman, what is an all-embracing ethic?
(a) Education.
(b) Freedom.
(c) Government.
(d) Religion.

3. In the market described by Friedman, exchanges between households are ______.
(a) Obligatory.
(b) Unwilling.
(c) Coerced.
(d) Voluntary.

4. According to Friedman, whom does free trade benefit?
(a) Both trading countries.
(b) Neither trading country.
(c) The wealthier trading country.
(d) The poorer trading country.

5. Where does Friedman live?
(a) New York.
(b) Philadelphia.
(c) San Francisco.
(d) Chicago.

Short Answer Questions

1. What has capitalism done for discrimination according to Friedman?

2. A common misunderstanding of economic freedom, according to Friedman, is that it emphasizes ______.

3. In Friedman's time, what was illegal to buy or sell?

4. Friedman's theory is that monetary exchange rates will allow trades across countries to ______ in accord with those rates.

5. What does FEPC stand for?

(see the answer key)

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