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Name: _________________________ | Period: ___________________ |
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4, International and Financial Trade Arrangements.
Multiple Choice Questions
1. For Friedman, what is an all-embracing ethic?
(a) Education.
(b) Freedom.
(c) Government.
(d) Religion.
2. Friedman advocates the end of ______.
(a) Export quotas.
(b) Capitalism.
(c) Exchange rates.
(d) The free market.
3. Friedman uses the example of selling ______ to demonstrate a true global economy.
(a) Oil.
(b) Wheat.
(c) Rice.
(d) Corn.
4. Friedman believes that economic control can lead to infringements on ______.
(a) Social welfare.
(b) Liberties.
(c) Licensing requirements.
(d) International trade.
5. In Friedman's time, what was illegal to buy or sell?
(a) Silver.
(b) Alcohol.
(c) Gold.
(d) Ethanol.
Short Answer Questions
1. Besides enforcing contracts, what one other thing does Friedman say government should do?
2. A common misunderstanding of economic freedom, according to Friedman, is that it emphasizes ______.
3. Who does Friedman state rejects the view that the government is the patron or master of the citizenry?
4. Friedman points out one idea that is often forgotten is that political and economic institutions have been ______.
5. What is one example of a negative externality?
This section contains 181 words (approx. 1 page at 300 words per page) |
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