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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3, The Control of Money.

Multiple Choice Questions

1. Friedman's theory on government intervention is that government is needed to be what regarding disputes?
(a) Groundskeeper.
(b) Umpire.
(c) Announcer.
(d) Fan.

2. What does Friedman say can government not duplicate?
(a) The power of local control.
(b) The free market economic system.
(c) The creativity of the individual.
(d) An international monitoring system.

3. Friedman states that government should be ______.
(a) Incorporated.
(b) Decentralized.
(c) Streamlined.
(d) Consolidated.

4. One question Friedman asks is how we can stop government from destroying ______.
(a) Citizens.
(b) Entertainment.
(c) Freedom.
(d) Taxes.

5. Friedman advocates that government should not be a master, but a/an ______.
(a) Mechanism.
(b) Philosophy.
(c) Slave.
(d) Instrument.

Short Answer Questions

1. According to Friedman, what is a necessary condition for political freedom?

2. Originally, liberalism fought for freedom of thought, free-markets, free trade, constitutionalism, representative government, and ______.

3. Which of the following does Friedman dispute?

4. Friedman asserts that current liberalism is tied to the state management of ______.

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

(see the answer key)

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