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

Multiple Choice Questions

1. What did the market system become known as?
(a) Communism.
(b) Capitalism.
(c) Populism.
(d) Marxism.

2. 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) Religion, custom, and authority.
(d) Traditions.

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

4. What was detested by factory workers in the late 1700's?
(a) Machinery.
(b) Mills.
(c) Baths.
(d) Managers.

5. According to Malthus, the size of the population is limited by what?
(a) Production.
(b) Wealth.
(c) Land.
(d) Food supply.

6. What theory explains that higher wages will call forth more workers because higher wages result in better living conditions and lower mortality figures?
(a) Law of Assimilation.
(b) Law of Economics.
(c) Law of Accumulation.
(d) Law of Population.

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

8. Ricardo was the son of a Jewish merchant banker from _________. (fill in the blank)
(a) England.
(b) France.
(c) Holland.
(d) Germany.

9. Heilbroner believes economists wield power greater than _________. (fill in the blank)
(a) Kings.
(b) God.
(c) Armies.
(d) Sword and scepter.

10. The early days of the industrial revolution resulted in workplace abuse, especially for ___________. (fill in the blank)
(a) Foreigners.
(b) Children.
(c) Men.
(d) Women.

11. Pamphlets printed at the time of his work compared Malthus with whom?
(a) Satan.
(b) God.
(c) Napolean
(d) Adam Smith.

12. The new philosophy of survival with the market system brought with it what new social problem?
(a) Keeping the poor drunk.
(b) Getting the poor rich.
(c) Keeping the poor poor.
(d) Getting the rich poor.

13. 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) Theories.
(b) War.
(c) Power.
(d) Wealth.

14. How many of the economists featured in the book made their own fortune?
(a) Four.
(b) Seven.
(c) Nine.
(d) Three.

15. 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) Six hundred years.
(b) Two hundred years.
(c) Seven hundred years.
(d) Five hundred years.

Short Answer Questions

1. What did all of the these economists do?

2. Heilbroner says the work of economist is both exciting and _________. (fill in the blank)

3. According to Malthus, how did nature control the resources of the world?

4. What is the most worldly of all man's activities, according to Heilbroner?

5. What was Ricardo's job?

(see the answer keys)

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