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. One role of government argued by the New Deal was to ______.
(a) Eliminate excessive alcohol drinking.
(b) Even out economic cycles.
(c) Regulate military spending.
(d) Provide subsidies for the poor.

2. Friedman's belief is that what cause would free trade substantially promote, both domestically and internationally?
(a) Freedom.
(b) Currency exchange.
(c) Regulation.
(d) Political power.

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

4. What term refers to the Federal Reserve's ability to produce more money than is deposited?
(a) Reserve ability production.
(b) Fractional reserve banking.
(c) Overdraft protection.
(d) Percent fulfillment banking.

5. According to Friedman, it can be argued that private schools ______ class distinctions, and therefore need government intervention.
(a) Diminish.
(b) Exacerbate.
(c) Increase.
(d) Maintain.

Short Answer Questions

1. What does Friedman believe is one drawback of the Federal Reserve having so much power?

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

3. Friedman asserts that government restriction centralizes ______.

4. Where does Friedman live?

5. Friedman advocates the end of ______.

(see the answer key)

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