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

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 industry does Friedman use to argue against licensure?
(a) Teachers.
(b) Medical.
(c) Attorneys.
(d) Economists.

4. What is the relationship between capitalism and the fraction of income paid for capital in countries?
(a) Correlational.
(b) Perpendicular.
(c) Inverse.
(d) Direct.

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

Short Answer Questions

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

2. What is the term for laws that forbid membership in a union a requirement for employment?

3. Where does Friedman live?

4. What is one method that governments have used to alter the distribution of income?

5. For Friedman, what is one major problem in interpreting the evidence on the distribution of income?

Short Essay Questions

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

2. What are the three primary forms of monopoly?

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

4. In Chapter 13, Friedman summarizes his examples. Which do you disagree with?

5. What are the three forms of control discussed by Friedman in Chapter 9, Occupational Licensure?

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

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

8. Why is Friedman against fair employment laws?

9. What is the progressive income tax?

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

(see the answer keys)

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