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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 is liberty's greatest enemy?
(a) Concentration of power.
(b) The educational system.
(c) The Federal government.
(d) Elected leaders.

2. Friedman states that government should be ______.
(a) Streamlined.
(b) Decentralized.
(c) Consolidated.
(d) Incorporated.

3. Friedman defines a country as a collection of ______.
(a) Leaders.
(b) Citizens.
(c) Ideals.
(d) Individuals.

4. What does Friedman believe coordinates individuals over vast distances and across all belief systems?
(a) The electoral system.
(b) The educational system.
(c) The geographic system.
(d) The price system.

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

Short Answer Questions

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

2. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.

3. According to Friedman, what conflicts with one another for men?

4. How are decisions, for Friedman, made where unanimity is a costly way of making decisions?

5. For Friedman, where is the best place for power to be held?

(see the answer key)

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