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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 suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?
(a) Libraries.
(b) Baseball fields.
(c) Housing allowance.
(d) Parking spaces.

2. Friedman's belief is that what cause would free trade substantially promote, both domestically and internationally?
(a) Regulation.
(b) Political power.
(c) Currency exchange.
(d) Freedom.

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

4. Where does Friedman live?
(a) San Francisco.
(b) Chicago.
(c) New York.
(d) Philadelphia.

5. What is the name of the system with the purpose of regulating monetary policy between leading countries?
(a) The Bretton Woods System.
(b) The World Bank System.
(c) The International Monetary System.
(d) The Gold Standard System.

Short Answer Questions

1. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.

2. One of Friedman's claims for government involvement in education asserts that there are ______ to education.

3. What does Friedman believe coordinates individuals over vast distances and across all belief systems?

4. What is the term for making non-membership in a union a condition of employment?

5. According to Friedman, the market enables wide diversity, meaning power can be located in ______.

(see the answer key)

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