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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. Marx's radicalism was ____________ rather than political. (fill in the blank)
(a) Educational.
(b) Religious.
(c) Philosophical.
(d) Theoretical.

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

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

4. Whose work was Schumpeter more familiar with than any other Western economists?
(a) Smith.
(b) Veblen.
(c) Keynes.
(d) Marx.

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

Short Answer Questions

1. Where was The Communist Manifesto written?

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

3. Veblen attacked the rich as he looked for what he called the __________. (fill in the blank)

4. According to The Communist Manifesto, what would be a transition period followed by pure Communism?

5. The outright fraud used by wealthy Americans was referred to in publications as __________. (fill in the blank)

Short Essay Questions

1. What was the background of Thorstein Veblen?

2. What connection does Schumpeter make between capitalism and sociological success?

3. What is Joseph Schumpeter's background?

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

5. What was dialectical materialism?

6. What is the background of John Maynard Keynes?

7. What was the surplus value theory?

8. What was the economic situation in the early 1900's in America?

9. What is the premise of Joseph Schumpeter's The Theory of Economic Development?

10. Why was John A. Hobson labeled at heretic?

(see the answer keys)

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