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. Labor unions are referred to as ______.
(a) Produced monopoly.
(b) Monopoly in government.
(c) Monopoly in industry.
(d) Monopoly in labor.

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

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

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

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

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

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

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

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

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

11. What term describes the deliberate setting of prices through an agreement by firms?
(a) Monopoly.
(b) Labor unions.
(c) Free market.
(d) Collusion.

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

13. If forced to choose between segregation or integration, which would Friedman choose?
(a) Integration.
(b) A combination.
(c) Segregation.
(d) Neither.

14. What is the major disadvantage Friedman describes of the proposed negative income tax?
(a) Determining the level of tax.
(b) Political implications.
(c) Implementation implications.
(d) Determining the level of benefit.

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

Short Answer Questions

1. According to Friedman, what are licenses restrictions on?

2. What effect has Friedman observed that public housing has had on juvenile delinquency?

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

4. What is the relationship between capitalism and the fraction of income paid for capital in countries?

5. To what previous restrictions on labor does Friedman compare licenses?

(see the answer keys)

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