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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 industry does Friedman use to explain his views on monopoly in labor?
(a) Coal.
(b) Auto.
(c) Steel.
(d) Manufacturing.
2. What does Friedman believe makes registration easier?
(a) Representation.
(b) Taxation.
(c) Elections.
(d) Recognition.
3. What is the major disadvantage Friedman describes of the proposed negative income tax?
(a) Determining the level of benefit.
(b) Political implications.
(c) Determining the level of tax.
(d) Implementation implications.
4. Which of the following is not an example of social welfare?
(a) Medicare.
(b) Public housing.
(c) Minimum wage laws.
(d) Occupational licensure.
5. Friedman hypothesizes that there has been a change in discrimination along with the rise of capitalism because ______.
(a) Contract arrangements replaced status as a source of wealth.
(b) There has been an increase in the population of skilled workers.
(c) Greed has overtaken all ethical values.
(d) Religion has argued equality on moral grounds.
Short Answer Questions
1. In what decades did intellectuals in the United States consider capitalism to be defective?
2. What does OASI stand for?
3. What industry sector is most prevalent in monopoly?
4. Friedman believes that the goddess of chance is ______.
5. What prefix were New Dealers commonly called?
Short Essay Questions
1. What example does Friedman use to illustrate his point about direct cash payments to those below a certain income level?
2. What are the three sources of monopoly?
3. Do you agree or disagree with Friedman's flat tax proposal?
4. Why is Friedman against fair employment laws?
5. Why does Friedman reject "right to work" laws?
6. What is the progressive income tax?
7. According to Friedman, can a liberal be an egalitarian?
8. In Chapter 13, Friedman summarizes his examples. Which do you agree with?
9. 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?
10. What is the problem for Friedman with fair employment commission legislation?
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