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. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?
(a) Blues singer and opera singer.
(b) Teacher and professor.
(c) Doctor and priest.
(d) Baseball player and basketball player.

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

3. According to Friedman, the essence of a competitive market is its ______ character.
(a) Trustworthy.
(b) Public.
(c) Private.
(d) Impersonal.

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

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

6. One threat Friedman believes to the preservation and expansion of freedom is ______.
(a) The Kremlin.
(b) Cuba.
(c) Economic uncertainties.
(d) An uneducated workforce.

7. What effect has Friedman observed that public housing has had on juvenile delinquency?
(a) Increased it.
(b) Reduced it.
(c) Maintained it.
(d) Spread it out.

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

9. According to Friedman, a liberal will welcome measures that promote what?
(a) Elimination of poverty.
(b) Wealth and freedom.
(c) Power and politics.
(d) Freedom and equality.

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

11. Regarding certification, what does Friedman stress increases sales?
(a) Stringent certification controls.
(b) Good products that maintain good reputations.
(c) Word of mouth advertising.
(d) Certificates of authenticity.

12. What problem did Dicey write about in 1914?
(a) Old age pensions.
(b) Education for all.
(c) Veteran's health benefits.
(d) Prenatal and infant care.

13. What does FEPC stand for?
(a) Fixing Economic Policy for Capitalism.
(b) Future Exercises for Preventing Catastrophes.
(c) Fair Employment Practice Commission.
(d) Finding Education and People Cooperatively.

14. What is one factor that Friedman believes has reduced inequality?
(a) Advances in technology.
(b) Civil Rights laws.
(c) Educational opportunities.
(d) Government intervention.

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

Short Answer Questions

1. What does OASI stand for?

2. What effect has public housing had on the density of people per dwelling?

3. What industry does Friedman use to argue against licensure?

4. Three levels of control are licensing, registration, and ______.

5. What industry does Friedman use to explain his views on monopoly in labor?

(see the answer keys)

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