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

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

3. For Friedman, what is the main argument for licensure?
(a) Maternalism.
(b) Materialism.
(c) Paternalism.
(d) Racism.

4. Who does Friedman believe is most critical of capitalism?
(a) Democrats.
(b) Socialists.
(c) Communists.
(d) Marxists.

5. What is one example of a government supported monopoly?
(a) The postal service.
(b) The auto industry.
(c) The coal industry.
(d) The sugar cane industry.

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

7. What type of society does Friedman believe is least materialistic?
(a) Collectivist.
(b) Capitalist.
(c) Marxist.
(d) Socialist.

8. Friedman theorizes compulsory purchase of annuities has imposed ______ costs for ______ gains.
(a) Large, little.
(b) Little, large.
(c) Social, political.
(d) Minimal, moderate.

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

10. What industry sector is most prevalent in monopoly?
(a) Manufacturing.
(b) Textile.
(c) Service.
(d) Shipping.

11. In what decades did intellectuals in the United States consider capitalism to be defective?
(a) 1940s and '50s.
(b) 1920s and '30s.
(c) 1900s and '10s.
(d) 1930s and '40s.

12. Where does Friedman live?
(a) New York.
(b) Chicago.
(c) San Francisco.
(d) Philadelphia.

13. What is the key issue for Friedman with annuities?
(a) Fulfilling the demand for annuities.
(b) Distributing the profits of annuities.
(c) Compulsory purchase of annuities.
(d) Government issuance of annuities.

14. Friedman gives examples of successful government intervention except ______.
(a) The income tax.
(b) Magnificent dams.
(c) School system.
(d) Sherman antitrust laws.

15. How many problems with monopolies does Friedman describe?
(a) Two.
(b) One.
(c) Four.
(d) Three.

Short Answer Questions

1. What is the term for making non-membership in a union a condition of employment?

2. What is the major reason Friedman asserts why government intervention has had the opposite of the intended effects?

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

4. What does Friedman advocate the abolition of in Chapter 10, The Distribution of Income?

5. According to Friedman, a liberal will welcome measures that promote what?

(see the answer keys)

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