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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7, Capitalism and Discrimination.

Multiple Choice Questions

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

2. For Friedman, what is an all-embracing ethic?
(a) Religion.
(b) Education.
(c) Freedom.
(d) Government.

3. Which of the following, for Friedman, is the most important factor for the Federal Reserve?
(a) Loans and lending practices.
(b) Stability.
(c) Regulation of the market.
(d) Economic growth.

4. Friedman hypothesizes that the change from free market societies to economic controlled ones led classical liberals to worry that it would ______ political freedom.
(a) Bolster.
(b) Undermine.
(c) Strengthen.
(d) Weaken.

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

Short Answer Questions

1. Friedman asserts that government restriction centralizes ______.

2. Which of the following does Friedman dispute?

3. Friedman asserts that the Federal Reserve created the major contractions of the following years except______.

4. What is one way Friedman believes some people criticize markets?

5. One role of government argued by the New Deal was to ______.

(see the answer key)

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