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Capitalism and Freedom by Milton Friedman - Exam
  • 1. What is the primary thesis of 'Capitalism and Freedom'?
A) Economic freedom is essential for political freedom.
B) Socialism is preferable to capitalism.
C) Freedom should be limited to economic aspects.
D) Government intervention is necessary for a free economy.
  • 2. Who authored 'Capitalism and Freedom'?
A) Friedrich Hayek
B) Thomas Piketty
C) John Maynard Keynes
D) Milton Friedman
  • 3. In which year was 'Capitalism and Freedom' published?
A) 1980
B) 1974
C) 1956
D) 1962
  • 4. What type of education does Friedman support?
A) School vouchers.
B) Free education for all.
C) Corporate-sponsored education.
D) Standardized public schooling.
  • 5. Friedman argues that inflation is primarily caused by:
A) High wages.
B) Excessive money supply.
C) Low demand.
D) Increased taxes.
  • 6. What is one criticism Friedman makes about government intervention?
A) It often leads to unintended consequences.
B) It guarantees social equality.
C) It is always based on sound economic theory.
D) It improves economic efficiency.
  • 7. What economic system does Friedman endorse?
A) Free-market capitalism.
B) Socialism.
C) Feudalism.
D) Mixed economy.
  • 8. What does Friedman suggest about minimum wage laws?
A) They should be increased.
B) They can lead to higher unemployment.
C) They are beneficial for all workers.
D) They help maintain living standards.
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