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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. Friedman believes that economic control can lead to infringements on ______.
(a) Liberties.
(b) International trade.
(c) Social welfare.
(d) Licensing requirements.

2. In Friedman's opinion, what should individuals be allowed to do?
(a) Choose their own religion.
(b) Elect their own leaders.
(c) Print their own money.
(d) Pursue their own ends.

3. Friedman asserts that government restriction centralizes ______.
(a) Power.
(b) Elitism.
(c) Goods.
(d) Wealth.

4. Originally, liberalism fought for freedom of thought, free-markets, free trade, constitutionalism, representative government, and ______.
(a) Fair trade.
(b) A welfare state.
(c) Rights of the poor.
(d) The rule of law.

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

Short Answer Questions

1. Friedman states that government should be ______.

2. What does Friedman believe needs protection in order for the freedom of the market to arise?

3. What does Friedman believe coordinates individuals over vast distances and across all belief systems?

4. A major point for Friedman is that politics and economics are not ______.

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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