Capitalism and Freedom Quiz | Eight Week Quiz C

This set of Lesson Plans consists of approximately 110 pages of tests, essay questions, lessons, and other teaching materials.

Capitalism and Freedom Quiz | Eight Week Quiz C

This set of Lesson Plans consists of approximately 110 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Capitalism and Freedom Lesson Plans
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4, International and Financial Trade Arrangements.

Multiple Choice Questions

1. In Friedman's eyes, individual activities correspond to game players as the framework of law corresponds to______.
(a) Finishers of the game.
(b) Rulers of the game.
(c) Players of the game.
(d) Leaders of the game.

2. In Chapter 3, what does Friedman provide a history of?
(a) American monetary policy.
(b) British colonialism.
(c) The Federal Reserve System.
(d) World War I.

3. Friedman hypothesizes that the change from free market societies to economic controlled ones led classical liberals to worry that it would ______ political freedom.
(a) Weaken.
(b) Bolster.
(c) Strengthen.
(d) Undermine.

4. Friedman asserts that government is needed for the ______.
(a) "Rules of the road."
(b) "Rules of the citizens."
(c) "Rules of the game."
(d) "Rules of the system."

5. Friedman asserts that the Federal Reserve created the major contractions of the following years except______.
(a) 1929-33.
(b) 1937-38.
(c) 1920-21.
(d) 1926-27.

Short Answer Questions

1. Besides enforcing contracts, what one other thing does Friedman say government should do?

2. What term refers to the Federal Reserve's ability to produce more money than is deposited?

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

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

5. What does Friedman believe will markets do over time to monopolies?

(see the answer key)

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