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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 1, The Relation between Economic Freedom and Political Freedom.

Multiple Choice Questions

1. What does Friedman believe needs protection in order for the freedom of the market to arise?
(a) Contracts.
(b) Government.
(c) Religion.
(d) Citizens.

2. Friedman believes that free markets are not sufficient for political freedom since many countries demonstrate the possibility of ______.
(a) Dictatorial government.
(b) Economic freedom.
(c) Laissez-faire markets.
(d) Authoritarian capitalism.

3. According to Friedman, what is a necessary condition for political freedom?
(a) Competitive capitalism.
(b) Fair trade.
(c) A high gross domestic product.
(d) Governmental regulation.

4. A common misunderstanding of economic freedom, according to Friedman, is that it emphasizes ______.
(a) Prosperity.
(b) Socialism.
(c) Materialism.
(d) Wealth.

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

Short Answer Questions

1. In Friedman's opinion, what should individuals be allowed to do?

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

3. What is the basic problem of social life for Friedman?

4. In Friedman's analysis, what century is the historical exception to most men living in tyranny, servitude, and misery?

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

(see the answer key)

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