The Worldly Philosophers Test | Final Test - Easy

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

Multiple Choice Questions

1. From where did Veblen graduate with a Ph.D?
(a) Harvard.
(b) University of Chicago.
(c) Yale.
(d) Cornell.

2. Keynes was involved in what important conference after World War II?
(a) Conference at Vienna.
(b) Bretton Woods.
(c) Peace Conference.
(d) United Nations.

3. During the Victorian period, economics became the province of __________. (fill in the blank)
(a) Professors.
(b) Landowners.
(c) Lawyers.
(d) Politicians.

4. Where was Joseph Schumpeter born?
(a) Australia.
(b) England.
(c) Austria.
(d) America.

5. Francis Ysidro Edgeworth was a graduate of what university?
(a) Oxford.
(b) Yale.
(c) Harvard.
(d) The School of Economic Thought.

6. Where was Veblen raised on a farm?
(a) Sweden.
(b) Minnesota.
(c) Illinois.
(d) Norway.

7. What did President Hoover think would be banished from the nation in the late 1920's?
(a) Poverty.
(b) Prosperity.
(c) Investments.
(d) Discrimination.

8. Veblen was considered by the academic world to be what?
(a) A nonconformist.
(b) A flake.
(c) An economist.
(d) A satirist.

9. Schumpeter presents his views about the 1930's in his book called __________. (fill in the blank)
(a) Business Cycles.
(b) Poor Economics.
(c) The Great Depression.
(d) Innovators.

10. What book did Schumpeter write while working for an Egyptian princess?
(a) Progress and Poverty.
(b) Principles of Economics.
(c) Tract on Monetary Reform.
(d) The Theory of Economic Development.

11. What nationality is Karl Marx?
(a) American.
(b) German.
(c) Brittish.
(d) French.

12. Keynes felt the business cycles had to be countered by __________. (fill in the blank)
(a) Higher wages.
(b) Government intervention.
(c) Private investors.
(d) Leaving the markets alone.

13. The Victorian period marked the beginning of what important movement?
(a) Socialism.
(b) Communism.
(c) European imperialism.
(d) American democracy.

14. Leon Walras felt that math could be used to determine what?
(a) The equilibrium price of a good.
(b) The profitable price of a good.
(c) The lowest price of a good.
(d) The highest price of a good.

15. It was rumored that Veblen was fluent in how many languages?
(a) 16.
(b) 26.
(c) 7.
(d) 22.

Short Answer Questions

1. Marx and Engels thought the revolution would occur in an advanced industrial economy like _________. (fill in the blank)

2. Keynes defines prosperity and depression in terms of what?

3. In what year did Keynes publish his Tract on Monetary Reform?

4. What did Schumpeter call a person who introduced change into economic life?

5. What did Marx's father hope he would study?

(see the answer keys)

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