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 is one example of a government supported monopoly?
(a) The postal service.
(b) The auto industry.
(c) The coal industry.
(d) The sugar cane industry.

2. Friedman gives examples of successful government intervention except ______.
(a) Magnificent dams.
(b) School system.
(c) The income tax.
(d) Sherman antitrust laws.

3. Instead of reducing inequality, Friedman states the income tax has favored ______.
(a) The growth of labor unions.
(b) Subsidies for farmers.
(c) Public housing.
(d) The growth of large corporations.

4. For Friedman, what is the main argument for licensure?
(a) Racism.
(b) Materialism.
(c) Maternalism.
(d) Paternalism.

5. Friedman believes that the goddess of chance is ______.
(a) Deaf.
(b) Dead.
(c) Blind.
(d) Skilled.

Short Answer Questions

1. If forced to choose between segregation or integration, which would Friedman choose?

2. Which of the following is not an example of social welfare?

3. What does OASI stand for?

4. In what decades did intellectuals in the United States consider capitalism to be defective?

5. What has capitalism done for discrimination according to Friedman?

Short Essay Questions

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

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

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

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

5. Why is Friedman against fair employment laws?

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

7. What is occupational licensure?

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

9. What recommendations would Friedman give to a president about an economic downturn?

10. What are the three primary forms of monopoly?

(see the answer keys)

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