Capitalism and Freedom Quiz | Eight Week Quiz F

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 11, Social Welfare Measures.

Multiple Choice Questions

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

2. Originally, liberalism fought for freedom of thought, free-markets, free trade, constitutionalism, representative government, and ______.
(a) Fair trade.
(b) The rule of law.
(c) A welfare state.
(d) Rights of the poor.

3. What industry does Friedman use to explain his views on monopoly in labor?
(a) Auto.
(b) Coal.
(c) Manufacturing.
(d) Steel.

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

5. Friedman states that ______ is a generator of inequality.
(a) Taxation.
(b) Redistribution.
(c) Unemployment.
(d) Social security.

Short Answer Questions

1. What specific social responsibility does Friedman condemn for corporations?

2. Friedman states that government should be ______.

3. Which of the following does Friedman dispute?

4. What is the key issue for Friedman with annuities?

5. A common misunderstanding of economic freedom, according to Friedman, is that it emphasizes ______.

(see the answer key)

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