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 specific social responsibility does Friedman condemn for corporations?
(a) Fair hiring practices.
(b) Charitable giving.
(c) Sweat free labor practices.
(d) Right to work laws.

2. What does OASI stand for?
(a) Occupational Advocacy Standing Issues.
(b) Older and Simpler Issues.
(c) Old Age and Survivor's Insurance.
(d) Optimum and Standard Issuance.

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

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

5. According to Friedman, what are licenses restrictions on?
(a) The qualifications of those doing the hiring.
(b) The age of those who are licensed.
(c) What schools professionals may attend.
(d) Who may hire whom.

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

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

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

9. 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.

10. Where does Friedman live?
(a) Chicago.
(b) Philadelphia.
(c) New York.
(d) San Francisco.

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

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

13. What is one method that governments have used to alter the distribution of income?
(a) Income taxation.
(b) Real estate law.
(c) Selling bonds.
(d) Social welfare.

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

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

Short Answer Questions

1. What effect has public housing had on the density of people per dwelling?

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

3. What has been more potent for progress than the visible hand for retrogression according to Friedman?

4. What has capitalism done for discrimination according to Friedman?

5. How many problems with monopolies does Friedman describe?

(see the answer keys)

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