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