Capitalism and Freedom Test | Mid-Book Test - Easy

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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What term refers to the argument for education that parents will not do best for their children?
(a) Employment.
(b) Maternalistic.
(c) Sacrificial.
(d) Paternalistic.

2. According to Friedman, what is liberty's greatest enemy?
(a) Elected leaders.
(b) The Federal government.
(c) The educational system.
(d) Concentration of power.

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

4. In Friedman's opinion, what will check government power?
(a) A tripartite government.
(b) A strong judicial system.
(c) A free market.
(d) The people.

5. Friedman argues against the theory that $100 in government spending will increase income by ______.
(a) $50.
(b) $150.
(c) $300.
(d) $100.

6. Friedman states that government should be ______.
(a) Destroyed.
(b) Expanded.
(c) Limited.
(d) Held accountable.

7. In Friedman's analysis, what century is the historical exception to most men living in tyranny, servitude, and misery?
(a) 18th.
(b) 19th.
(c) 17th.
(d) 20th.

8. Past and current definitions of liberalism are the same with respect to ______.
(a) Distribution of wealth and the welfare state.
(b) Civil freedoms and democracy.
(c) Paternalism and individualism.
(d) Free markets and the rule of law.

9. What caused all the major nations to abandon the gold standard?
(a) Decline in the value of gold.
(b) World War II.
(c) World War I.
(d) The Great Depression.

10. What major event does Friedman strongly believe was a result of the government mishandling the money supply?
(a) None of the answers is correct.
(b) The Great Depression.
(c) Prohibition.
(d) World War I.

11. According to Friedman, it can be argued that private schools ______ class distinctions, and therefore need government intervention.
(a) Diminish.
(b) Increase.
(c) Exacerbate.
(d) Maintain.

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

13. According to Friedman, the market enables wide diversity, meaning power can be located in ______.
(a) Large pockets with limited interests.
(b) Small pockets of individual actors.
(c) The hands of a few.
(d) The hands of many.

14. Friedman defines a country as a collection of ______.
(a) Ideals.
(b) Individuals.
(c) Citizens.
(d) Leaders.

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

Short Answer Questions

1. Friedman believes that all of the following are appropriate for fiscal policy except ______.

2. One argument for government spending that Friedman refutes is that it will reduce what?

3. Friedman theorizes that in extreme cases where parents don't pay for schooling, the government could provide a ______.

4. What does Friedman believe is one drawback of the Federal Reserve having so much power?

5. Friedman's belief is that what cause would free trade substantially promote, both domestically and internationally?

(see the answer keys)

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