The Worldly Philosophers Test | Final Test - Medium

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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. Where did Keynes attend college?
(a) Eton.
(b) Oxford.
(c) Cambridge.
(d) Yale.

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

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

4. The society that Marx believed would follow capitalism would be _________. (fill in the blank)
(a) Classless.
(b) Profitable.
(c) Well-planned.
(d) Wealthy.

5. The Communist Manifesto first appeared in what year?
(a) 1844.
(b) 1828.
(c) 1833.
(d) 1848.

Short Answer Questions

1. Where was Joseph Schumpeter born?

2. Whose work was Schumpeter more familiar with than any other Western economists?

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

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

5. Veblen was fascinated with how society was dominated by __________. (fill in the blank)

Short Essay Questions

1. What were Veblen's views on capitalism in The Theory of Business Enterprise?

2. What was Veblen's theory about the Savage Society?

3. Why did Keynes decide his Treatise on Money was incorrect?

4. Which of Marx's concepts turned out to be true?

5. What was Keynes theory about savings?

6. What is Joseph Schumpeter's background?

7. What is the background of John Maynard Keynes?

8. What was dialectical materialism?

9. What was the premise of Veblen's book, The Theory of the Leisure Class?

10. How did Frederic Bastiat ridicule economics?

(see the answer keys)

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