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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. The new philosophy of survival with the market system brought with it what new social problem?
(a) Getting the poor rich.
(b) Getting the rich poor.
(c) Keeping the poor drunk.
(d) Keeping the poor poor.

2. Heilbroner says the work of economist is both exciting and _________. (fill in the blank)
(a) Boring.
(b) Dangerous.
(c) Controversial.
(d) Inconsequential.

3. How many of the economists featured in the book made their own fortune?
(a) Nine.
(b) Seven.
(c) Three.
(d) Four.

4. What does Heilbroner think is strange about ancient civilizations?
(a) There were no rulers.
(b) There were no economists.
(c) There was no plan for survival.
(d) There was no currency.

5. Dr. Richard Price felt that the population had declined by how much?
(a) 10%.
(b) 20%.
(c) 50%.
(d) 30%.

Short Answer Questions

1. According to Mills, there would be a gradual disappearance of what?

2. What did Heilbroner say was one of the factors bringing about the economic changes to a market system?

3. Where was Adam Smith educated?

4. In The Wealth of Nations, _________ are used as examples of how the market functions. (fill in the blank)

5. In ancient society, there was no need for political economy or to see what made the economy function because it was all based on what?

Short Essay Questions

1. What were the beliefs of the Saint-Simonians?

2. How did the Corn Laws benefit the landowners?

3. What does Heilbroner say is the core of economics?

4. Who was Count Henri de Rouvroy de Saint-Simone?

5. How was English society divided at the time of Adam Smith?

6. What led to the introduction of a poor-relief bill and what did it encourage?

7. What factors determine a nation's wealth, according to Adam Smith?

8. Why does Heilbroner find it strange that people don't know about the worldly philosophers?

9. How does Heilbroner describe the nine economist in his introduction?

10. How did David Ricardo view society?

(see the answer keys)

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