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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. Which of the following cannot be justified by Friedman for government interventions?
(a) Vouchers for education.
(b) Roads.
(c) Free speech.
(d) Public parks.

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

3. According to Friedman, what conflicts with one another for men?
(a) Political ideology.
(b) Religious beliefs.
(c) Absolute freedom.
(d) Economic interests.

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

5. One role of government argued by the New Deal was to ______.
(a) Regulate military spending.
(b) Provide subsidies for the poor.
(c) Even out economic cycles.
(d) Eliminate excessive alcohol drinking.

Short Answer Questions

1. According to Friedman, what is the Federal Reserve lacking?

2. What major event does Friedman strongly believe was a result of the government mishandling the money supply?

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

4. What does Friedman believe is an appropriate rate of increase for the Federal Reserve?

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

(see the answer key)

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