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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. Mill's book pointed out that the true province of economic law was production, not _________. (fill in the blank)
(a) Factories.
(b) Wages.
(c) Profits.
(d) Distribution.

2. What did all of the these economists do?
(a) Died penniless.
(b) Never married.
(c) Wrote a book.
(d) Influenced a king.

3. Eighteenth-century England thought the population to be somewhere around 5.5 million people, and it was not expected to double for approximately how many years?
(a) Two hundred years.
(b) Five hundred years.
(c) Seven hundred years.
(d) Six hundred years.

4. Eventually the market system evolved with its necessary factors of _________ for production. (fill in the blank)
(a) Land, labor, and capital.
(b) Land, factories, and capital.
(c) Traditions.
(d) Religion, custom, and authority.

5. What describes how investment can lead to greater output?
(a) Law of Economics.
(b) Law of Accumulation.
(c) Law of Population.
(d) Law of Assimilation.

Short Answer Questions

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

2. What did Malthus believe was the basic trouble with the world?

3. According to Ricardo, which class was the only class in English society which could benefit from its hold on grain prices?

4. How many years did it take Adam Smith to finish The Wealth of Nations?

5. The first stop on Heilbroner's description of how economists became necessary to society is France in what year?

(see the answer key)

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