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 claims there is no connection between equal treatment and what?
(a) Equal opportunity.
(b) Equal protection.
(c) Equal shares of income.
(d) Equal rights.

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

3. What example does Friedman use to demonstrate his views on employment practices?
(a) A blacksmith.
(b) A baker.
(c) A grocer.
(d) A lawyer.

4. How many problems with monopolies does Friedman describe?
(a) One.
(b) Three.
(c) Two.
(d) Four.

5. What does Friedman advocate the abolition of in Chapter 10, The Distribution of Income?
(a) Flat-rate income tax.
(b) Welfare.
(c) Trade unions.
(d) Corporate income tax.

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

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

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

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

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

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

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

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

14. Friedman would agree that racism is ______.
(a) Curable.
(b) Unavoidable.
(c) Expensive.
(d) Fixable with government intervention.

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

Short Answer Questions

1. Regarding certification, what does Friedman stress increases sales?

2. What is one example Friedman uses to demonstrate his point on monopoly in industry?

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

4. What example does Friedman use to argue against the redistribution of wealth?

5. Who does Friedman believe is most critical of capitalism?

(see the answer keys)

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