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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. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?
(a) Blues singer and opera singer.
(b) Doctor and priest.
(c) Teacher and professor.
(d) Baseball player and basketball player.

2. According to Friedman, what is the Federal Reserve lacking?
(a) A Magna Carta of sorts.
(b) A Constitution of sorts.
(c) A Rosetta Stone of sorts.
(d) A Declaration of Independence of sorts.

3. A major point for Friedman is that politics and economics are not ______.
(a) United.
(b) Together.
(c) Separate.
(d) Autonomous.

4. What example does Friedman use to demonstrate his views on employment practices?
(a) A lawyer.
(b) A baker.
(c) A grocer.
(d) A blacksmith.

5. If forced to choose between segregation or integration, which would Friedman choose?
(a) A combination.
(b) Neither.
(c) Integration.
(d) Segregation.

Short Answer Questions

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

2. Where does Friedman live?

3. What does Friedman prefer when it comes to exchange rates?

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

5. What does Friedman claim that governments abuse?

(see the answer key)

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