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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 13, Conclusion.

Multiple Choice Questions

1. What major event does Friedman strongly believe was a result of the government mishandling the money supply?
(a) The Great Depression.
(b) World War I.
(c) Prohibition.
(d) None of the answers is correct.

2. What effect has public housing had on the density of people per dwelling?
(a) Maintained it.
(b) Increased it.
(c) Spread it out.
(d) Reduced it.

3. Another threat for Friedman to the preservation and expansion of freedom is:
(a) An internal threat of labor unions.
(b) An internal threat of unfair political practices.
(c) An internal threat of government regulation.
(d) An internal threat of licensure requirements.

4. What does Friedman prefer when it comes to exchange rates?
(a) Rising exchange rates?
(b) Hovering exchange rates.
(c) Sinking exchange rates.
(d) Floating exchange rates.

5. Which type of education does Friedman not advocate the government paying for?
(a) Industrial.
(b) Liberal.
(c) Vocational.
(d) Minimal.

Short Answer Questions

1. According to Friedman, what is one unknown negative effect of farm subsidies?

2. What does Friedman believe needs protection in order for the freedom of the market to arise?

3. According to Friedman, what is liberty's greatest enemy?

4. What example does Friedman use to demonstrate his views on employment practices?

5. According to Friedman, the essence of a competitive market is its ______ character.

(see the answer key)

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