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

2. Friedman would agree that racism is ______.
(a) Unavoidable.
(b) Fixable with government intervention.
(c) Expensive.
(d) Curable.

3. In Chapter 12, The Alleviation of Poverty, what two things does Friedman say a person cannot be at the same time?
(a) Egalitarian and liberal.
(b) Naturalist and soldier.
(c) Democrat and republican.
(d) Progressive and conservative.

4. What one argument for OASI can be justified for Friedman?
(a) It helps high-income people more than low-income people.
(b) It puts youth and the elderly on the same playing field.
(c) It helps low-income people more than high-income people.
(d) It serves as a magnification of society's social issues.

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

Short Answer Questions

1. One argument Friedman theorizes for Social Security is ______.

2. What is the major disadvantage Friedman describes of the proposed negative income tax?

3. Friedman states that ______ is a generator of inequality.

4. What prefix were New Dealers commonly called?

5. Who does Friedman believe maintains the system of licensure?

Short Essay Questions

1. What does Friedman believe are the effects of minimum wage laws?

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

3. According to Friedman, do monopolies have any sort of "social responsibility"?

4. Do you agree or disagree with Friedman's flat tax proposal?

5. Why does Friedman reject "right to work" laws?

6. What is the progressive income tax?

7. Friedman accepts the reasoning that justifies "governmental action to alleviate poverty" (p. 191). What two issues must be addressed in order for this to happen?

8. Why is Friedman against fair employment laws?

9. What does Friedman say about public housing as a form of social welfare?

10. What is the problem for Friedman with fair employment commission legislation?

(see the answer keys)

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