Capitalism and Freedom Quiz | Eight Week Quiz D

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5, Fiscal Policy.

Multiple Choice Questions

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

2. Friedman asserts that government is needed for the ______.
(a) "Rules of the game."
(b) "Rules of the citizens."
(c) "Rules of the system."
(d) "Rules of the road."

3. Friedman asserts that the Federal Reserve created the major contractions of the following years except______.
(a) 1926-27.
(b) 1920-21.
(c) 1937-38.
(d) 1929-33.

4. Friedman's analysis of government argues that it is not ______.
(a) Contractionary.
(b) Reductionary.
(c) Stagnantary.
(d) Expansionary.

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

Short Answer Questions

1. What does Friedman use as an example of a use of government where individuals cannot consume individual amounts?

2. Friedman's theory is that monetary exchange rates will allow trades across countries to ______ in accord with those rates.

3. What is the name of the system with the purpose of regulating monetary policy between leading countries?

4. Which of the following does Friedman dispute?

5. In Friedman's eyes, individual activities correspond to game players as the framework of law corresponds to______.

(see the answer key)

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