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

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

3. 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) Teacher and professor.
(d) Doctor and priest.

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

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

6. What has been more potent for progress than the visible hand for retrogression according to Friedman?
(a) None of the answers is correct.
(b) Invisible hand.
(c) Hidden hand.
(d) Transparent hand.

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

8. If forced to choose between segregation or integration, which would Friedman choose?
(a) Segregation.
(b) A combination.
(c) Integration.
(d) Neither.

9. According to Friedman, who benefits from licensure?
(a) Clients.
(b) Customers.
(c) Aspirants.
(d) Licensed practitioners.

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

11. One argument Friedman theorizes for Social Security is ______.
(a) Paternalism.
(b) The neighborhood effect.
(c) The lost boys result.
(d) The economics of incentives argument.

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

13. In 1961, how much did the government spend on direct welfare payments and programs?
(a) $45 million.
(b) $42 billion.
(c) $33 billion.
(d) $30 million.

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

15. 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 puts youth and the elderly on the same playing field.
(d) It helps high-income people more than low-income people.

Short Answer Questions

1. What does FEPC stand for?

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

3. In what decades did intellectuals in the United States consider capitalism to be defective?

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

5. What example does Friedman give for one argument for registration?

(see the answer keys)

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