Capitalism and Freedom Test | Final Test - Easy

This set of Lesson Plans consists of approximately 110 pages of tests, essay questions, lessons, and other teaching materials.

Capitalism and Freedom Test | Final Test - Easy

This set of Lesson Plans consists of approximately 110 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Capitalism and Freedom Lesson Plans
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What effect has Friedman observed that minimum wage laws have had on poverty?
(a) Increased it.
(b) Reduced it.
(c) Maintained it.
(d) Spread it out.

2. Friedman would agree that racism is ______.
(a) Expensive.
(b) Curable.
(c) Unavoidable.
(d) Fixable with government intervention.

3. Forming a list of who engages in what is known as ______.
(a) Licensing.
(b) Registration.
(c) Listing.
(d) Organizing.

4. Who does Friedman think can abuse licensure?
(a) Educational institutions.
(b) Special interest groups.
(c) Those applying for the licenses.
(d) An elite few in power.

5. What is one method that governments have used to alter the distribution of income?
(a) Selling bonds.
(b) Social welfare.
(c) Real estate law.
(d) Income taxation.

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

7. What industry does Friedman use to explain his views on monopoly in labor?
(a) Manufacturing.
(b) Coal.
(c) Auto.
(d) Steel.

8. Friedman advocates ______ income of the poor.
(a) Reducing.
(b) Taxing.
(c) Supplementing.
(d) Supplanting.

9. Which type of monopoly does Friedman believe is least bad?
(a) Private monopoly.
(b) Labor monopoly.
(c) Government monopoly.
(d) Government regulation.

10. What is one argument Friedman gives for public housing?
(a) The law of demand effect.
(b) The paternalism effect.
(c) The neighborhood effect.
(d) The law of supply effect.

11. What does Friedman believe makes registration easier?
(a) Taxation.
(b) Elections.
(c) Representation.
(d) Recognition.

12. Regarding certification, what does Friedman stress increases sales?
(a) Certificates of authenticity.
(b) Good products that maintain good reputations.
(c) Word of mouth advertising.
(d) Stringent certification controls.

13. Which of the following is not an example of social welfare?
(a) Public housing.
(b) Minimum wage laws.
(c) Occupational licensure.
(d) Medicare.

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

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

Short Answer Questions

1. What problem did Dicey write about in 1914?

2. Who said, "There is much ruin in a nation"?

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

4. Instead of reducing inequality, Friedman states the income tax has favored ______.

5. According to Friedman, who benefits from licensure?

(see the answer keys)

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