Capitalism and Freedom by Milton Friedman

1. What is the primary thesis of 'Capitalism and Freedom'?

A) Government intervention is necessary for a free economy.
B) Economic freedom is essential for political freedom.
C) Socialism is preferable to capitalism.
D) Freedom should be limited to economic aspects.

2. Who authored 'Capitalism and Freedom'?

A) Thomas Piketty
B) Friedrich Hayek
C) Milton Friedman
D) John Maynard Keynes

3. In which year was 'Capitalism and Freedom' published?

A) 1980
B) 1962
C) 1956
D) 1974

4. What type of education does Friedman support?

A) Standardized public schooling.
B) Corporate-sponsored education.
C) Free education for all.
D) School vouchers.

5. Friedman argues that inflation is primarily caused by:

A) Increased taxes.
B) High wages.
C) Excessive money supply.
D) Low demand.

6. What is one criticism Friedman makes about government intervention?

A) It is always based on sound economic theory.
B) It often leads to unintended consequences.
C) It improves economic efficiency.
D) It guarantees social equality.

7. What economic system does Friedman endorse?

A) Free-market capitalism.
B) Mixed economy.
C) Socialism.
D) Feudalism.

8. What does Friedman suggest about minimum wage laws?

A) They are beneficial for all workers.
B) They should be increased.
C) They help maintain living standards.
D) They can lead to higher unemployment.

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