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

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

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

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

5. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?
(a) Increae in leisure time.
(b) Advances in education.
(c) Advances in entertainment.
(d) Advances in technology.

6. One argument Friedman theorizes for Social Security is ______.
(a) The neighborhood effect.
(b) Paternalism.
(c) The economics of incentives argument.
(d) The lost boys result.

7. What example does Friedman give for one argument for registration?
(a) Sex offender registration.
(b) Tobacco registration.
(c) Firearm registration.
(d) Alcohol registration.

8. What is the term for making non-membership in a union a condition of employment?
(a) "Yellow-dog" contract.
(b) Red-cat" contract.
(c) "Green-bird" contract.
(d) "Blue-bee" contract.

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

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

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

12. What has been more potent for progress than the visible hand for retrogression according to Friedman?
(a) Invisible hand.
(b) None of the answers is correct.
(c) Transparent hand.
(d) Hidden hand.

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

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

15. 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) Baseball player and basketball player.
(b) Doctor and priest.
(c) Teacher and professor.
(d) Blues singer and opera singer.

Short Answer Questions

1. What does Friedman believe makes registration easier?

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

3. What type of society does Friedman believe is least materialistic?

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

5. What is one argument Friedman gives for public housing?

(see the answer keys)

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