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. What industry does Friedman use to argue against licensure?

2. Friedman simply states that to alleviate poverty, we should have a program directed at ______.

3. What is the term for laws that forbid membership in a union a requirement for employment?

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

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

Short Essay Questions

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

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

3. If people were given cash instead of subsidies like food stamps, how might they would use it to get themselves out of poverty, and how might it be wasted?

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

5. What is the progressive income tax?

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

7. What are the three sources of monopoly?

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

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

10. Friedman accepts the reasoning that justifies "governmental action to alleviate poverty" (p. 191). What two issues must be addressed in order for this to happen?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Friedman uses two reasons to justify government intervention: the neighborhood effect and paternalism. Analyze these reasons and determine whether they are sufficient justifications for government intervention.

Essay Topic 2

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 3

Friedman published "Capitalism and Freedom" in 1962. It is one of Friedman's attempts to spread free-market ideas to the public at large. The book advocates a number of free-market proposals, many of which, such as floating exchange rates and flat taxes, are implemented across the world today and seem commonplace. However, many of his more radical ideas remain controversial, such as school vouchers, or are totally ignored, like ending occupational licensure. In an essay, examine the historical context of Friedman's work and analyze the major movements of the time that may have influenced his views.

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