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 effect has public housing had on the density of people per dwelling?
(a) Reduced it.
(b) Maintained it.
(c) Increased it.
(d) Spread it out.

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

3. Another threat for Friedman to the preservation and expansion of freedom is:
(a) An internal threat of licensure requirements.
(b) An internal threat of labor unions.
(c) An internal threat of government regulation.
(d) An internal threat of unfair political practices.

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

5. For Friedman, what is one major problem in interpreting the evidence on the distribution of income?
(a) Temporary vs. long run income status.
(b) Defining poverty levels.
(c) Reliable empirical evidence.
(d) Lack of data.

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

7. Who said, "There is much ruin in a nation"?
(a) Adam Smith.
(b) John Maynard Keynes.
(c) Carl Menger.
(d) Milton Friedman.

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

9. Who does Friedman believe maintains the system of licensure?
(a) Local unions.
(b) Licensure review board.
(c) Licensed members of each field.
(d) Federal government.

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

11. One recourse recommended by Friedman for poverty is ______.
(a) Government assistance.
(b) Minimum wages.
(c) More education for the poor.
(d) Private charity.

12. What is the term for laws that forbid membership in a union a requirement for employment?
(a) Fair labor laws.
(b) Anti-union laws.
(c) Employment standards laws.
(d) Right to work laws.

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

14. Regarding certification, what does Friedman stress increases sales?
(a) Stringent certification controls.
(b) Good products that maintain good reputations.
(c) Word of mouth advertising.
(d) Certificates of authenticity.

15. What is the major reason Friedman asserts why government intervention has had the opposite of the intended effects?
(a) A wealthy few have made the majority of the decisions for the minority.
(b) People in power only seek political gains.
(c) People do not abide by the rules of the government.
(d) People attempt to promote their own interests.

Short Answer Questions

1. For Friedman, what is the main argument for licensure?

2. According to Friedman, what is one major cost of the extension of governmental welfare activities?

3. Friedman advocates ______ income of the poor.

4. According to Friedman, Social security measures were enacted to make receipt of assistance a matter of ______.

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

(see the answer keys)

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