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. Having spent some time in South Africa, Hobson returned to England and wrote what book?
(a) Capital.
(b) Capitalism.
(c) Progress.
(d) Imperialism.

2. The stock market crashed in what year?
(a) 1932.
(b) 1929.
(c) 1927.
(d) 1930.

3. What did Schumpeter call a person who introduced change into economic life?
(a) An entrepreneur.
(b) An iInventor.
(c) An investor.
(d) An innovator.

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

5. What was the name of Marx's devoted wife?
(a) Jane.
(b) June.
(c) Jenny.
(d) Julia.

6. According to Engels and Marx, what does "dialectical" mean?
(a) Diverse.
(b) Change.
(c) Discussion.
(d) Chance.

7. Why does Keynes resign his position from the Peace Conference?
(a) He is opposed to the German reparation payments.
(b) He wanted a more powerful position.
(c) He is in favor of German reparation payments.
(d) He is opposed to the war.

8. During the Victorian era, the field of study became known as economics and not ___________. (fill in the blank)
(a) Phrenology.
(b) Political economy.
(c) Imperialism.
(d) Socialsim.

9. Where was The Communist Manifesto written?
(a) Paris.
(b) Berlin.
(c) London.
(d) Brussels.

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

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

12. Veblen's family sent him to college to become __________. (fill in the blank)
(a) A lawyer.
(b) A teacher.
(c) A doctor.
(d) A minister.

13. Keynes defines prosperity and depression in terms of what?
(a) Output.
(b) Income.
(c) Distribution.
(d) Production.

14. Who sent a letter to his business associates threatening to ruin them?
(a) J. Pierpont Morgan.
(b) Cornelius Vanderbilt.
(c) Henry Rogers.
(d) William Rockefeller.

15. What did Marx's father hope he would study?
(a) Politics.
(b) Law.
(c) Religion.
(d) Medicine.

Short Answer Questions

1. Keynes received an appointment to a Royal Commission studying what?

2. Veblen's book earned him a reputation as a __________. (fill in the blank)

3. When were Schumpeter's theories considered true?

4. Between 1870 and 1914, what percentage of English savings were invested abroad?

5. The Communist Manifesto first appeared in what year?

(see the answer keys)

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