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) Licensure review board.
(b) Local unions.
(c) Licensed members of each field.
(d) Federal government.

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

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

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

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

6. What does Friedman believe makes registration easier?
(a) Recognition.
(b) Representation.
(c) Taxation.
(d) Elections.

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

8. What is one disadvantage Friedman describes of programs to alleviate poverty?
(a) Administration.
(b) Funding.
(c) Authorization.
(d) Fraud.

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

10. One threat Friedman believes to the preservation and expansion of freedom is ______.
(a) An uneducated workforce.
(b) The Kremlin.
(c) Economic uncertainties.
(d) Cuba.

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

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

13. Who said, "There is much ruin in a nation"?
(a) Milton Friedman.
(b) Adam Smith.
(c) Carl Menger.
(d) John Maynard Keynes.

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

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

Short Answer Questions

1. One recourse recommended by Friedman for poverty is ______.

2. Which of the following is not an example of social welfare?

3. What one argument for OASI can be justified for Friedman?

4. Who does Friedman think can abuse licensure?

5. What does FEPC stand for?

(see the answer keys)

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