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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 has been more potent for progress than the visible hand for retrogression according to Friedman?
(a) Invisible hand.
(b) Hidden hand.
(c) Transparent hand.
(d) None of the answers is correct.

2. Which term refers to the government stimulating spending?
(a) "Charge the battery."
(b) "Rev the engine."
(c) "Prime the pump."
(d) "Grease the skids."

3. In Friedman's opinion, what should individuals be allowed to do?
(a) Pursue their own ends.
(b) Print their own money.
(c) Choose their own religion.
(d) Elect their own leaders.

4. For Friedman, where is the best place for power to be held?
(a) At the federal level.
(b) In the states.
(c) In the local community.
(d) In the economic system.

5. Friedman's theory is that monetary exchange rates will allow trades across countries to ______ in accord with those rates.
(a) Stagnate.
(b) Increase.
(c) Equilibrate.
(d) Decrease.

Short Answer Questions

1. What does Friedman believe will become self-regulating?

2. Friedman advocates that individuals should be able to buy and sell ______.

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

4. Friedman's evidence suggests that for every $100 of government spending, a certain amount is added to income. How much?

5. At the time of the book's publication, there was a tendency to regard government intervention as ______.

(see the answer key)

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