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

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

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

4. To what does Friedman equate competition?
(a) The Prime Meridian.
(b) A parallel line.
(c) A perpendicular line.
(d) A Euclidean line.

5. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?
(a) ACSA.
(b) FCC.
(c) ACLU.
(d) NAACP.

6. What is the key issue for Friedman with annuities?
(a) Distributing the profits of annuities.
(b) Government issuance of annuities.
(c) Compulsory purchase of annuities.
(d) Fulfilling the demand for annuities.

7. Friedman gives the following examples of the negative effects of government intervention except ______.
(a) Farm subsidies.
(b) Religious freedom acts.
(c) Regulation of the railroads.
(d) Housing programs.

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

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

10. Which type of monopoly does Friedman believe is least bad?
(a) Labor monopoly.
(b) Government monopoly.
(c) Government regulation.
(d) Private monopoly.

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

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

13. 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.

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

15. Who does Friedman think can abuse licensure?
(a) Special interest groups.
(b) Those applying for the licenses.
(c) Educational institutions.
(d) An elite few in power.

Short Answer Questions

1. Forming a list of who engages in what is known as ______.

2. What is the major reason Friedman asserts why government intervention has had the opposite of the intended effects?

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

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

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

(see the answer keys)

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