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

2. What has capitalism done for discrimination according to Friedman?
(a) Widened.
(b) Reduced it.
(c) Increased it.
(d) Abolished it.

3. What specific social responsibility does Friedman condemn for corporations?
(a) Charitable giving.
(b) Right to work laws.
(c) Sweat free labor practices.
(d) Fair hiring practices.

4. Forming a list of who engages in what is known as ______.
(a) Registration.
(b) Listing.
(c) Licensing.
(d) Organizing.

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

6. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?
(a) ACLU.
(b) ACSA.
(c) FCC.
(d) NAACP.

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

8. What is one argument Friedman gives for public housing?
(a) The law of demand effect.
(b) The neighborhood effect.
(c) The law of supply effect.
(d) The paternalism effect.

9. To what does Friedman equate competition?
(a) A Euclidean line.
(b) The Prime Meridian.
(c) A parallel line.
(d) A perpendicular line.

10. What is one method that governments have used to alter the distribution of income?
(a) Selling bonds.
(b) Real estate law.
(c) Income taxation.
(d) Social welfare.

11. What is one disadvantage Friedman describes of programs to alleviate poverty?
(a) Authorization.
(b) Fraud.
(c) Administration.
(d) Funding.

12. According to Friedman, what are licenses restrictions on?
(a) Who may hire whom.
(b) What schools professionals may attend.
(c) The age of those who are licensed.
(d) The qualifications of those doing the hiring.

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

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

15. What does Friedman believe makes registration easier?
(a) Taxation.
(b) Recognition.
(c) Elections.
(d) Representation.

Short Answer Questions

1. Friedman suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?

2. According to Friedman, what is the goal of government intervention regarding the distribution of income?

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

4. What term describes the deliberate setting of prices through an agreement by firms?

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

(see the answer keys)

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