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

Multiple Choice Questions

1. What was the title of Adam Smith's first book?
(a) The Theory of Moral Sentiments.
(b) The Theory of Moral Philosophy.
(c) The Wealth of Nations.
(d) Essay on the Principles of Population.

2. The fact that man is _________ makes survival difficult. (fill in the blank)
(a) A slow learner.
(b) Clever.
(c) Antisocial.
(d) Self-centered.

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

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

5. 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 Population.
(b) Law of Accumulation.
(c) Law of Economics.
(d) Law of Assimilation.

6. Assigning tasks by command to ensure that all necessary tasks are performed is what type of system?
(a) Religion.
(b) Authority.
(c) Tradition.
(d) Market.

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

8. What was the length of the common workday during the early days of the Industrial Revolution?
(a) Ten hours.
(b) Eight hours.
(c) Twelve hours.
(d) Sixteen hours.

9. To Heilbroner, what is the common denominator at the core of these men with diverse backgrounds?
(a) Wisdom.
(b) Curiosity.
(c) Greed.
(d) Intellect.

10. Where was New Harmony located?
(a) Indiana.
(b) Manchester.
(c) London.
(d) New York.

11. Smith was a firm believer in _______________, or leave the market alone. (fill in the blank)
(a) Agricracy.
(b) Laissez-faire.
(c) Macroeconomics.
(d) Physiocracy.

12. Heilbroner says through his book, the reader has embarked on _________. (fill in the blank)
(a) A journey to wealth.
(b) A journey through history.
(c) A journey to financial wisdom.
(d) A journey through hell.

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

14. Malthus's essay earned economics the nickname _________. (fill in the blank)
(a) Population science.
(b) Wealth science.
(c) Dismal science.
(d) Death science.

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

Short Answer Questions

1. Charles Fourier is classified as _________. (fill in the blank)

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

3. What helped bring an end to the religiousness of the population in Europe?

4. What does Heilbroner think is strange about ancient civilizations?

5. 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?

(see the answer keys)

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