Capitalism and Freedom Test | Final Test - Medium

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

Multiple Choice Questions

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

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

3. Friedman advocates ______ income of the poor.
(a) Taxing.
(b) Supplanting.
(c) Reducing.
(d) Supplementing.

4. According to Friedman, what is the goal of government intervention regarding the distribution of income?
(a) Job creation.
(b) Income equality.
(c) Social welfare.
(d) Taxation.

5. What has capitalism done for discrimination according to Friedman?
(a) Abolished it.
(b) Widened.
(c) Increased it.
(d) Reduced it.

Short Answer Questions

1. Friedman gives examples of successful government intervention except ______.

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

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

4. At the time of the book's publication, there was a tendency to regard government intervention as ______.

5. Another threat for Friedman to the preservation and expansion of freedom is:

(see the answer keys)

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