Capitalism and Freedom Quiz | Eight Week Quiz F

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 11, Social Welfare Measures.

Multiple Choice Questions

1. According to Friedman, whom does free trade benefit?
(a) The poorer trading country.
(b) Both trading countries.
(c) The wealthier trading country.
(d) Neither trading country.

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

3. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?
(a) NAACP.
(b) FCC.
(c) ACLU.
(d) ACSA.

4. What term refers to the Federal Reserve's ability to produce more money than is deposited?
(a) Percent fulfillment banking.
(b) Reserve ability production.
(c) Overdraft protection.
(d) Fractional reserve banking.

5. Friedman believes that vocational and professional schools should be totally ______ run.
(a) Publicly.
(b) Governmentally.
(c) Privately.
(d) Cooperatively.

Short Answer Questions

1. Who does Friedman state rejects the view that the government is the patron or master of the citizenry?

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

3. Friedman states that government should be ______.

4. What specific social responsibility does Friedman condemn for corporations?

5. Friedman states that government should be ______.

(see the answer key)

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