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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What does Heilbroner think is strange about ancient civilizations?
(a) There were no economists.
(b) There was no plan for survival.
(c) There were no rulers.
(d) There was no currency.

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?
(a) Benign socialism.
(b) Capitalism.
(c) Communism.
(d) Phanlansteries.

3. What was Ricardo's job?
(a) Professor.
(b) Researcher.
(c) Landlord.
(d) Stockbroker.

4. _________ was based on true wealth only being created in agriculture. (fill in the blank)
(a) Physiocracy.
(b) Agricracy.
(c) Macroeconomics.
(d) Laissez-faire.

5. The market system was compelled largely by what idea?
(a) Work.
(b) Need.
(c) Loss.
(d) Gain.

6. What did Malthus believe was the basic trouble with the world?
(a) Too few jobs.
(b) Too many people.
(c) Too much war.
(d) Too many landowners.

7. What kind of survival has man faced from the earliest days on?
(a) Monetary.
(b) Economic.
(c) Social.
(d) Marital.

8. Who failed to recognize the wealth creating ability of labor?
(a) Smith.
(b) Quesnay.
(c) Hume.
(d) Locke.

9. Where was Adam Smith educated?
(a) University of Glasgow.
(b) University of England.
(c) Oxford.
(d) Harvard.

10. At what university was Adam Smith on the faculty?
(a) University of Glasgow.
(b) University of England.
(c) Harvard.
(d) Oxford.

11. At the beginning of the 1800's, England had two strong classes emerge; an _________ class and an agricultural class. (fill in the blank)
(a) Industrial.
(b) Wealthy.
(c) Landowner.
(d) Urban.

12. Charles Fourier is classified as _________. (fill in the blank)
(a) An Utopian Socialist.
(b) A Gloomy Economist.
(c) An Economic Revolutionary.
(d) A Labor Unionist.

13. What did Heilbroner say was one of the factors bringing about the economic changes to a market system?
(a) The end of religion.
(b) The growth of factories.
(c) Foreign exploration.
(d) The Industrial Revolution.

14. 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)
(a) Wealth.
(b) Theories.
(c) Power.
(d) War.

15. Saint-Simone was a firm believer in _________. (fill in the blank)
(a) Physiocracy.
(b) Laissez-faire.
(c) Democracy.
(d) The Law of Accumulation.

Short Answer Questions

1. Adam Smith was considered a non-conformist because he refused to do what before classes?

2. Malthus's essay earned economics the nickname _________. (fill in the blank)

3. Mill's book pointed out that the true province of economic law was production, not _________. (fill in the blank)

4. Who is to blame for the lack of glamour in the field of economics?

5. 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?

(see the answer keys)

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