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 advocate the abolition of in Chapter 10, The Distribution of Income?
(a) Corporate income tax.
(b) Flat-rate income tax.
(c) Welfare.
(d) Trade unions.

2. What two professions does Friedman compare to support his claim on the harm it does when people are unable to find mutually acceptable contracts?
(a) Baseball player and basketball player.
(b) Teacher and professor.
(c) Blues singer and opera singer.
(d) Doctor and priest.

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

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

5. Friedman suggests that employees may prefer to have part of their remuneration take the form of amenities such as what?
(a) Baseball fields.
(b) Libraries.
(c) Housing allowance.
(d) Parking spaces.

Short Answer Questions

1. What does OASI stand for?

2. What is one disadvantage Friedman describes of programs to alleviate poverty?

3. Friedman claims there is no connection between equal treatment and what?

4. What example does Friedman use to demonstrate his views on employment practices?

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

Short Essay Questions

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

2. What are two problems with monopolies for the liberal?

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

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

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

6. Why is Friedman against fair employment laws?

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

8. What does Friedman assert that capitalism has done for inequalities?

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

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

(see the answer keys)

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