Capitalism and Freedom Test | Final Test - Medium

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 - Medium

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 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What does FEPC stand for?
(a) Fixing Economic Policy for Capitalism.
(b) Fair Employment Practice Commission.
(c) Future Exercises for Preventing Catastrophes.
(d) Finding Education and People Cooperatively.

2. Who does Friedman believe maintains the system of licensure?
(a) Federal government.
(b) Licensed members of each field.
(c) Local unions.
(d) Licensure review board.

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

4. Which group does Friedman believe to be contradictory in their views on free speech and fair employment laws?
(a) NAACP.
(b) FCC.
(c) ACLU.
(d) ACSA.

5. Friedman believes that the goddess of chance is ______.
(a) Skilled.
(b) Blind.
(c) Deaf.
(d) Dead.

Short Answer Questions

1. What effect has Friedman observed that public housing has had on juvenile delinquency?

2. Friedman advocates ______ income of the poor.

3. If forced to choose between segregation or integration, which would Friedman choose?

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

5. What type of society does Friedman believe is least materialistic?

Short Essay Questions

1. What is the problem for Friedman with fair employment commission legislation?

2. What are two problems with monopolies for the liberal?

3. What are the three forms of control discussed by Friedman in Chapter 9, Occupational Licensure?

4. What are the three primary forms of monopoly?

5. 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?

6. What is occupational licensure?

7. In Chapter 13, Friedman summarizes his examples. Which do you disagree with?

8. What is the progressive income tax?

9. Where do you stand: are you on the liberal free market side or more on the government intervention side? Why?

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

(see the answer keys)

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