View a FREE sample

This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. 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.

2. What one argument for OASI can be justified for Friedman?
(a) It helps low-income people more than high-income people.
(b) It serves as a magnification of society's social issues.
(c) It helps high-income people more than low-income people.
(d) It puts youth and the elderly on the same playing field.

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

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

5. Who does Friedman believe is most critical of capitalism?
(a) Democrats.
(b) Marxists.
(c) Socialists.
(d) Communists.

6. What industry sector is most prevalent in monopoly?
(a) Service.
(b) Manufacturing.
(c) Textile.
(d) Shipping.

7. According to Friedman, a liberal will welcome measures that promote what?
(a) Elimination of poverty.
(b) Wealth and freedom.
(c) Power and politics.
(d) Freedom and equality.

8. What example does Friedman give for one argument for registration?
(a) Firearm registration.
(b) Sex offender registration.
(c) Alcohol registration.
(d) Tobacco registration.

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

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

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

12. Friedman simply states that to alleviate poverty, we should have a program directed at ______.
(a) Regulation of charitable giving.
(b) Helping the poor.
(c) Providing work programs.
(d) Price subsidies.

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

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

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

Short Answer Questions

1. Friedman believes that the goddess of chance is ______.

2. What does FEPC stand for?

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

4. According to Friedman, the essence of a competitive market is its ______ character.

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

(see the answer keys)

This section contains 460 words (approx. 2 pages at 300 words per page) View a FREE sample