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