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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3, The Control of Money.

Multiple Choice Questions

1. According to Friedman, what conflicts with one another for men?
(a) Religious beliefs.
(b) Political ideology.
(c) Economic interests.
(d) Absolute freedom.

2. A major point for Friedman is that politics and economics are not ______.
(a) Separate.
(b) Together.
(c) Autonomous.
(d) United.

3. In Friedman's opinion, what will check government power?
(a) A strong judicial system.
(b) A tripartite government.
(c) The people.
(d) A free market.

4. Friedman hypothesizes that the change from free market societies to economic controlled ones led classical liberals to worry that it would ______ political freedom.
(a) Undermine.
(b) Weaken.
(c) Bolster.
(d) Strengthen.

5. Past and current definitions of liberalism are the same with respect to ______.
(a) Distribution of wealth and the welfare state.
(b) Free markets and the rule of law.
(c) Paternalism and individualism.
(d) Civil freedoms and democracy.

Short Answer Questions

1. Friedman states that government should be ______.

2. Friedman's theory on government intervention is that government is needed to be what regarding disputes?

3. Friedman believes that government that has the power to do good, also has the power to do ______.

4. What does Friedman use as an example of a use of government where individuals cannot consume individual amounts?

5. What term refers to the Federal Reserve's ability to produce more money than is deposited?

(see the answer key)

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