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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4, International and Financial Trade Arrangements.

Multiple Choice Questions

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

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

3. Who does Friedman state rejects the view that the government is the patron or master of the citizenry?
(a) The rich man.
(b) The poor man.
(c) The free man.
(d) The educated man.

4. What does Friedman assert is an example of an appropriate task for government?
(a) Defining property rights.
(b) Regulating the job market.
(c) Determining price.
(d) Providing for the social welfare.

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

Short Answer Questions

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

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

3. What does Friedman believe will become self-regulating?

4. Friedman advocates that individuals should be able to buy and sell ______.

5. According to Friedman, what is liberty's greatest enemy?

(see the answer key)

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