View a FREE sample

This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Who failed to recognize the wealth creating ability of labor?
(a) Hume.
(b) Smith.
(c) Quesnay.
(d) Locke.

2. Eventually the market system evolved with its necessary factors of _________ for production. (fill in the blank)
(a) Land, labor, and capital.
(b) Land, factories, and capital.
(c) Traditions.
(d) Religion, custom, and authority.

3. Ricardo was the son of a Jewish merchant banker from _________. (fill in the blank)
(a) Germany.
(b) France.
(c) Holland.
(d) England.

4. The followers of Saint-Simone proposed an end to _________. (fill in the blank)
(a) Democracy.
(b) Private property.
(c) Industrial production.
(d) Villages of Cooperation.

5. What was the title of Adam Smith's first book?
(a) The Theory of Moral Sentiments.
(b) The Theory of Moral Philosophy.
(c) The Wealth of Nations.
(d) Essay on the Principles of Population.

6. Owen's idea called for the creation of _________. (fill in the blank)
(a) Villages of Cooperation.
(b) Mobs and protests.
(c) More mills.
(d) Democratic governments.

7. Adam Smith defined wealth in terms of what?
(a) Produce.
(b) Gold.
(c) Goods.
(d) Land.

8. While in prison, who did Saint-Simone claim appeared to him, telling him to become a philosopher?
(a) Adam Smith.
(b) Charlemagne.
(c) God.
(d) George Washington.

9. What was Ricardo's job?
(a) Stockbroker.
(b) Landlord.
(c) Researcher.
(d) Professor.

10. What year did the British Labor Movement begin?
(a) 1833.
(b) 1776.
(c) 1801.
(d) 1778.

11. "Each should do what was to his best monetary advantage" describes what system?
(a) Tradition.
(b) Market.
(c) Authority.
(d) Religion.

12. One of the featured economists was never more than what?
(a) A drunk.
(b) A traveling salesman.
(c) A hack.
(d) An insurance salesman.

13. What was the length of the common workday during the early days of the Industrial Revolution?
(a) Ten hours.
(b) Twelve hours.
(c) Eight hours.
(d) Sixteen hours.

14. Malthus's essay earned economics the nickname _________. (fill in the blank)
(a) Wealth science.
(b) Death science.
(c) Population science.
(d) Dismal science.

15. By what decade was Malthus proved wrong?
(a) 1970's.
(b) 1980's.
(c) 1950's.
(d) 1990's.

Short Answer Questions

1. Malthus continued to work on his theory of population and the food supply and assumed that humans could double their number every _________. (fill in the blank)

2. Eighteenth-century England thought the population to be somewhere around 5.5 million people, and it was not expected to double for approximately how many years?

3. Who is to blame for the lack of glamour in the field of economics?

4. According to Malthus, the size of the population is limited by what?

5. Heilbroner believes economists wield power greater than _________. (fill in the blank)

(see the answer keys)

This section contains 393 words (approx. 2 pages at 300 words per page) View a FREE sample