Capitalism and Freedom Test | Final Test - Easy

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

Multiple Choice Questions

1. Friedman would agree that racism is ______.
(a) Expensive.
(b) Fixable with government intervention.
(c) Unavoidable.
(d) Curable.

2. What is one example Friedman uses to demonstrate his point on monopoly in industry?
(a) Steel vs. shipping industry.
(b) Entertainment vs. telecommunication industry.
(c) Automobile vs. wholesale industry.
(d) Textile vs. production industry.

3. What prefix were New Dealers commonly called?
(a) Ill.
(b) Re.
(c) Un.
(d) Ex.

4. In Chapter 12, The Alleviation of Poverty, what two things does Friedman say a person cannot be at the same time?
(a) Naturalist and soldier.
(b) Progressive and conservative.
(c) Democrat and republican.
(d) Egalitarian and liberal.

5. Instead of reducing inequality, Friedman states the income tax has favored ______.
(a) The growth of large corporations.
(b) The growth of labor unions.
(c) Public housing.
(d) Subsidies for farmers.

6. What does OASI stand for?
(a) Old Age and Survivor's Insurance.
(b) Occupational Advocacy Standing Issues.
(c) Optimum and Standard Issuance.
(d) Older and Simpler Issues.

7. At the time of the book's publication, there was a tendency to regard government intervention as ______.
(a) Detrimental.
(b) Desirable.
(c) Harmful.
(d) Necessary.

8. Who does Friedman think can abuse licensure?
(a) Special interest groups.
(b) Those applying for the licenses.
(c) Educational institutions.
(d) An elite few in power.

9. What is the relationship between capitalism and the fraction of income paid for capital in countries?
(a) Inverse.
(b) Direct.
(c) Correlational.
(d) Perpendicular.

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

11. Which type of monopoly does Friedman believe is least bad?
(a) Private monopoly.
(b) Labor monopoly.
(c) Government monopoly.
(d) Government regulation.

12. To what previous restrictions on labor does Friedman compare licenses?
(a) Fraternities and sororities.
(b) Guilds and castes.
(c) Clubs and coalitions.
(d) Unions and organizations.

13. Friedman claims there is no connection between equal treatment and what?
(a) Equal opportunity.
(b) Equal protection.
(c) Equal shares of income.
(d) Equal rights.

14. Friedman suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?
(a) Parking spaces.
(b) Baseball fields.
(c) Libraries.
(d) Housing allowance.

15. Friedman believes that the goddess of chance is ______.
(a) Dead.
(b) Deaf.
(c) Blind.
(d) Skilled.

Short Answer Questions

1. Regarding certification, what does Friedman stress increases sales?

2. Friedman gives the following examples of the negative effects of government intervention except ______.

3. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?

4. One recourse recommended by Friedman for poverty is ______.

5. According to Friedman, what are licenses restrictions on?

(see the answer keys)

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