Capitalism and Freedom Test | Final Test - Easy

Final Test

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

Multiple Choice Questions

Directions: Circle the correct answer.

1. Three levels of control are licensing, registration, and ______.
a) Acceptance.
b) Certification.
c) Recognition.
d) Initiation.

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

3. What term refers to the circumstance under which the action of one individual imposes significant costs on other individuals for which it is not feasible to make him compensate them?
a) The neighborhood effect.
b) The colleague effect.
c) The common principle.
d) The future growth principle.

4. Labor unions are referred to as ______.
a) Produced monopoly.
b) Monopoly in industry.
c) Monopoly in government.
d) Monopoly in labor.