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 advocates ______ income of the poor.
(a) Reducing.
(b) Supplementing.
(c) Taxing.
(d) Supplanting.

2. What does FEPC stand for?
(a) Fair Employment Practice Commission.
(b) Finding Education and People Cooperatively.
(c) Future Exercises for Preventing Catastrophes.
(d) Fixing Economic Policy for Capitalism.

3. In what decades did intellectuals in the United States consider capitalism to be defective?
(a) 1900s and '10s.
(b) 1920s and '30s.
(c) 1930s and '40s.
(d) 1940s and '50s.

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

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

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

7. According to Friedman, what is the goal of government intervention regarding the distribution of income?
(a) Income equality.
(b) Job creation.
(c) Social welfare.
(d) Taxation.

8. What prefix were New Dealers commonly called?
(a) Re.
(b) Ill.
(c) Ex.
(d) Un.

9. Three levels of control are licensing, registration, and ______.
(a) Acceptance.
(b) Initiation.
(c) Recognition.
(d) Certification.

10. For Friedman, what is the main argument for licensure?
(a) Paternalism.
(b) Racism.
(c) Maternalism.
(d) Materialism.

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

12. Forming a list of who engages in what is known as ______.
(a) Registration.
(b) Licensing.
(c) Organizing.
(d) Listing.

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

14. What has capitalism done for discrimination according to Friedman?
(a) Widened.
(b) Abolished it.
(c) Increased it.
(d) Reduced it.

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

Short Answer Questions

1. What was the exemption of the federal income tax when Friedman wrote "Capitalism and Freedom"?

2. In 1961, how much did the government spend on direct welfare payments and programs?

3. Who said, "There is much ruin in a nation"?

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

5. Another threat for Friedman to the preservation and expansion of freedom is:

(see the answer keys)

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