Capitalism and Freedom Test | Final Test - Hard

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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

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

2. What type of society does Friedman believe is least materialistic?

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

4. What industry sector is most prevalent in monopoly?

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

Short Essay Questions

1. What is occupational licensure?

2. What is the progressive income tax?

3. Who are the biggest advocates of occupational licensure that Friedman describes?

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

5. What does Friedman believe are the effects of farm price supports?

6. According to Friedman, can a liberal be an egalitarian?

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

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

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

10. Where do you stand: are you on the liberal free market side or more on the government intervention side? Why?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Friedman condemns charitable giving by corporations and argues that they have no social responsibility. Determine if this is economically sound and true in today's society. Do you agree with Friedman's position?

Essay Topic 2

According to the author, government does have a role in a free society. Analyze Friedman's view of the appropriate role of government.

Essay Topic 3

Friedman gives many historical examples to illustrate his point about the relationship between economic and political freedom. Examine these historical examples and decide whether they prove Friedman's thesis.

(see the answer keys)

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