Capitalism and Freedom Test | Final Test - Hard

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

Short Answer Questions

1. What prefix were New Dealers commonly called?

2. In Chapter 12, The Alleviation of Poverty, what two things does Friedman say a person cannot be at the same time?

3. For Friedman, what is the main argument for licensure?

4. Who does Friedman believe is most critical of capitalism?

5. What is one example of a government supported monopoly?

Essay Topics

Essay Topic 1

Friedman disagrees with the multiplier effect, a Keynesian theory, reasoning for government spending. Analyze the multiplier effect and examine the man who propagates the theory, John Maynard Keynes.

Essay Topic 2

Friedman describes the current international trade arrangements of his time. In Friedman's day, the value of currency was tied to the gold standard. This arrangement was known as the Bretton Woods system. Analyze this currency system. What is it? How did it work? What were the advantages and disadvantages of it? How does it compare with what we have in the present day?

Essay Topic 3

Friedman articulates one solution for government involvement in education: vouchers. Analyze Friedman's voucher proposal to the current day voucher proposal and decide whether this would be a good solution to improve education.

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