Capitalism and Freedom Quiz | Eight Week Quiz B

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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. Which of the following can be justified by Friedman for government interventions?
(a) Property rights.
(b) Subsidizing farm production.
(c) Minimum wage.
(d) The draft.

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

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

4. Friedman believes that government that has the power to do good, also has the power to do ______.
(a) Right.
(b) Nothing.
(c) Wrong.
(d) Bad.

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

Short Answer Questions

1. Friedman defines a country as a collection of ______.

2. Friedman asserts that government restriction centralizes ______.

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

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

5. What does Friedman claim that governments abuse?

(see the answer key)

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