Capitalism and Freedom Test | Final Test - Medium

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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. To what does Friedman equate competition?
(a) The Prime Meridian.
(b) A Euclidean line.
(c) A perpendicular line.
(d) A parallel line.

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

3. 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.

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

5. At the time of the book's publication, there was a tendency to regard government intervention as ______.
(a) Harmful.
(b) Detrimental.
(c) Desirable.
(d) Necessary.

Short Answer Questions

1. Friedman theorizes compulsory purchase of annuities has imposed ______ costs for ______ gains.

2. In Chapter 10, The Distribution of Income, what was the chief characteristic of progress and development over the past century?

3. What does OASI stand for?

4. What is the key issue for Friedman with annuities?

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

Short Essay Questions

1. Why is Friedman against fair employment laws?

2. Do you think doctors should be required to obtain a license?

3. What is Friedman's recommendation regarding an income tax?

4. Do you think people should be forced to participate in social security?

5. According to Friedman, is there any justification for government intervention when it comes to distributing wealth?

6. What example does Friedman use to illustrate his point about direct cash payments to those below a certain income level?

7. Where do you stand: are you on the liberal free market side or more on the government intervention side? Why?

8. If people were given cash instead of subsidies like food stamps, how might they would use it to get themselves out of poverty, and how might it be wasted?

9. According to Friedman, can a liberal be an egalitarian?

10. In Chapter 13, Friedman summarizes his examples. Which do you agree with?

(see the answer keys)

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