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This quiz consists of 5 multiple choice and 5 short answer questions through The Contradictions of Joseph Schumpeter.

Multiple Choice Questions

1. Between 1870 and 1914, what percentage of English savings were invested abroad?
(a) 50%.
(b) 10%.
(c) 25%.
(d) 20%.

2. Veblen's book earned him a reputation as a __________. (fill in the blank)
(a) Crackpot.
(b) Radical.
(c) Satirist.
(d) Economist.

3. It is the forces of ______ that make the market function according to Adam Smith. (fill in the blank)
(a) Wealth.
(b) Competition.
(c) Gold.
(d) Nature.

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

5. By what decade was Malthus proved wrong?
(a) 1950's.
(b) 1980's.
(c) 1990's.
(d) 1970's.

Short Answer Questions

1. Assigning tasks by command to ensure that all necessary tasks are performed is what type of system?

2. In Mills' model, wages would rise as a result of accumulation of capital. Eventually, the accumulation process would come to an end and enter what stage?

3. Where did Karl Marx and Friedrich Engels meet?

4. Heilbroner begins the book by saying it is limited to a small number of men who did more for history with _________ than famous men did. (fill in the blank)

5. In what year is Schumpeter's book Capitalism, Socialism and Democracy published?

(see the answer key)

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