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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 has capitalism done for discrimination according to Friedman?
(a) Widened.
(b) Abolished it.
(c) Reduced it.
(d) Increased it.

2. What term describes the deliberate setting of prices through an agreement by firms?
(a) Collusion.
(b) Free market.
(c) Monopoly.
(d) Labor unions.

3. What is the term for making non-membership in a union a condition of employment?
(a) "Yellow-dog" contract.
(b) Red-cat" contract.
(c) "Blue-bee" contract.
(d) "Green-bird" contract.

4. Friedman hypothesizes that there has been a change in discrimination along with the rise of capitalism because ______.
(a) Greed has overtaken all ethical values.
(b) Religion has argued equality on moral grounds.
(c) Contract arrangements replaced status as a source of wealth.
(d) There has been an increase in the population of skilled workers.

5. What is the term for laws that forbid membership in a union a requirement for employment?
(a) Anti-union laws.
(b) Employment standards laws.
(c) Fair labor laws.
(d) Right to work laws.

Short Answer Questions

1. According to Friedman, Social security measures were enacted to make receipt of assistance a matter of ______.

2. One threat Friedman believes to the preservation and expansion of freedom is ______.

3. Friedman believes that the goddess of chance is ______.

4. According to Friedman, what is the goal of government intervention regarding the distribution of income?

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

Short Essay Questions

1. What are the three primary forms of monopoly?

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

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

4. What does Friedman assert that capitalism has done for inequalities?

5. What is occupational licensure?

6. Why is Friedman against fair employment laws?

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

8. 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?

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

10. What is the progressive income tax?

(see the answer keys)

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