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. Friedman advocates that government should not be a master, but a/an ______.
(a) Mechanism.
(b) Instrument.
(c) Philosophy.
(d) Slave.

2. Which of the following does Friedman dispute?
(a) Government should stay out of individual economic choices.
(b) The gold standard for backing money is good.
(c) The Central Bank holds too much power.
(d) A free market economic system works.

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

4. What is one way Friedman believes some people criticize markets?
(a) It limits people's choices.
(b) It inequitably distributes wealth.
(c) It hurts those in power.
(d) It gives people what they want.

5. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.
(a) Autonomic.
(b) Unfree.
(c) Free.
(d) Suppressed.

Short Answer Questions

1. Which of the following cannot be justified by Friedman for government interventions?

2. Friedman asserts that government restriction centralizes ______.

3. In Friedman's opinion, what will check government power?

4. Besides enforcing contracts, what one other thing does Friedman say government should do?

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

(see the answer key)

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