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This quiz consists of 5 multiple choice and 5 short answer questions through The Heresies of John Maynard Keynes.

Multiple Choice Questions

1. Adam Smith was a lecturer in what area?
(a) Religious Science.
(b) Economic Philosphy.
(c) Religion.
(d) Moral Philosophy.

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

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

4. According to Marx, which class had something to fear?
(a) The ruling class.
(b) The working class.
(c) The foreign class.
(d) The farming class.

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

Short Answer Questions

1. What theory explains that higher wages will call forth more workers because higher wages result in better living conditions and lower mortality figures?

2. Why does Keynes resign his position from the Peace Conference?

3. According to Marx, workers are paid _________. (fill in the blank)

4. Where did Karl Marx and Friedrich Engels meet?

5. It is the forces of ______ that make the market function according to Adam Smith. (fill in the blank)

(see the answer key)

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