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This quiz consists of 5 multiple choice and 5 short answer questions through The Victorian World and the Underworld of Economics.

Multiple Choice Questions

1. What is the biggest danger facing a modern community?
(a) Human predictability.
(b) Economics.
(c) Excommunication.
(d) Human unpredictability.

2. The second stop on Heilbroner's historical journey describes the number of markets visited by one man in 1550, in what country?
(a) England.
(b) Germany.
(c) America.
(d) France.

3. By what year had crops reached near famine levels in England?
(a) 1776.
(b) 1798.
(c) 1801.
(d) 1813.

4. Adam Smith left his university position to become a private tutor and traveled through which country?
(a) America.
(b) China.
(c) Russia.
(d) France.

5. Leon Walras felt that math could be used to determine what?
(a) The equilibrium price of a good.
(b) The profitable price of a good.
(c) The highest price of a good.
(d) The lowest price of a good.

Short Answer Questions

1. John Stuart Mill's book was written when he was in his forties. What is the name of the book?

2. Adam Smith defined wealth in terms of what?

3. _________ was based on true wealth only being created in agriculture. (fill in the blank)

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

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

(see the answer key)

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