Capitalism and Freedom Quiz | Eight Week Quiz G

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 13, Conclusion.

Multiple Choice Questions

1. One question Friedman asks is how we can stop government from destroying ______.
(a) Taxes.
(b) Freedom.
(c) Entertainment.
(d) Citizens.

2. According to Friedman, who benefits from licensure?
(a) Licensed practitioners.
(b) Customers.
(c) Clients.
(d) Aspirants.

3. What was the exemption of the federal income tax when Friedman wrote "Capitalism and Freedom"?
(a) $2000.
(b) $1000.
(c) $300.
(d) $600.

4. What term describes the deliberate setting of prices through an agreement by firms?
(a) Monopoly.
(b) Free market.
(c) Collusion.
(d) Labor unions.

5. In the market described by Friedman, exchanges between households are ______.
(a) Obligatory.
(b) Coerced.
(c) Unwilling.
(d) Voluntary.

Short Answer Questions

1. Friedman advocates ______ income of the poor.

2. Who said, "There is much ruin in a nation"?

3. A major point for Friedman is that politics and economics are not ______.

4. Friedman believes that vocational and professional schools should be totally ______ run.

5. Which type of monopoly does Friedman believe is least bad?

(see the answer key)

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