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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4, International and Financial Trade Arrangements.

Multiple Choice Questions

1. What does Friedman believe needs protection in order for the freedom of the market to arise?
(a) Citizens.
(b) Government.
(c) Contracts.
(d) Religion.

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

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

4. Friedman asserts that government restriction centralizes ______.
(a) Wealth.
(b) Elitism.
(c) Goods.
(d) Power.

5. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.
(a) Autonomic.
(b) Suppressed.
(c) Unfree.
(d) Free.

Short Answer Questions

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

2. Friedman asserts that government is needed for the ______.

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

4. Friedman states that government should be ______.

5. One question Friedman asks is how we can stop government from destroying ______.

(see the answer key)

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