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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) Social welfare.
(b) Liberties.
(c) International trade.
(d) Licensing requirements.

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

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

4. Friedman uses the example of selling ______ to demonstrate a true global economy.
(a) Oil.
(b) Rice.
(c) Corn.
(d) Wheat.

5. What does Friedman believe will markets do over time to monopolies?
(a) Make them obsolete.
(b) Separate them slowly.
(c) Strengthen them.
(d) Break them up.

Short Answer Questions

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

2. Friedman states that government should be ______.

3. One question Friedman asks is how we can stop government from destroying ______.

4. According to Friedman, what is a necessary condition for political freedom?

5. For Friedman, what is an all-embracing ethic?

(see the answer key)

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