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