Capitalism and Freedom Quiz | Four Week Quiz A

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

2. According to Friedman, the market enables wide diversity, meaning power can be located in ______.
(a) Small pockets of individual actors.
(b) Large pockets with limited interests.
(c) The hands of many.
(d) The hands of a few.

3. What does Friedman claim that governments abuse?
(a) The power to determine taxes.
(b) The trust of the people.
(c) Commodity standards.
(d) Ability to issue stocks.

4. In Friedman's mind, why is centralization attractive to many?
(a) Better pool of resources.
(b) Streamlined services.
(c) Consolidation of power.
(d) Government can promote the public interest.

5. Which of the following, for Friedman, is the most important factor for the Federal Reserve?
(a) Loans and lending practices.
(b) Stability.
(c) Regulation of the market.
(d) Economic growth.

Short Answer Questions

1. For Friedman, what is something that when privately owned can be used if the price is right?

2. Friedman asserts that government is needed for the ______.

3. One role of government argued by the New Deal was to ______.

4. What does Friedman believe is an appropriate rate of increase for the Federal Reserve?

5. Friedman states that government should be ______.

(see the answer key)

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