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

2. What industry does Friedman use to explain his views on monopoly in labor?
(a) Auto.
(b) Coal.
(c) Manufacturing.
(d) Steel.

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

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

5. What does the Texas Railroad Commission enforce?
(a) Cattle in fields near railway lines.
(b) Output of oil wells.
(c) Number of trains on the rails.
(d) Transportation of goods by rail.

6. Friedman hypothesizes that there has been a change in discrimination along with the rise of capitalism because ______.
(a) There has been an increase in the population of skilled workers.
(b) Religion has argued equality on moral grounds.
(c) Greed has overtaken all ethical values.
(d) Contract arrangements replaced status as a source of wealth.

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

8. According to Friedman, Social security measures were enacted to make receipt of assistance a matter of ______.
(a) Paperwork.
(b) Right.
(c) Principle.
(d) Authority.

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

10. According to Friedman, what is one major cost of the extension of governmental welfare activities?
(a) Lower productivity of labor.
(b) Increased regulation of private organizations.
(c) Higher taxes with low results.
(d) Decline in private charitable activities.

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

12. What effect has Friedman observed that minimum wage laws have had on poverty?
(a) Spread it out.
(b) Maintained it.
(c) Increased it.
(d) Reduced it.

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

14. What example does Friedman use to argue against the redistribution of wealth?
(a) The Swiss Family Robinson.
(b) Davey Crockett.
(c) Robinson Crusoe.
(d) Mark Twain.

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

Short Answer Questions

1. What is one example of a government supported monopoly?

2. Which of the following is not an example of social welfare?

3. One argument Friedman theorizes for Social Security is ______.

4. What does Friedman believe makes registration easier?

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

(see the answer keys)

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