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

Multiple Choice Questions

1. Where was Veblen raised on a farm?
(a) Illinois.
(b) Sweden.
(c) Minnesota.
(d) Norway.

2. The Communist Manifesto first appeared in what year?
(a) 1828.
(b) 1848.
(c) 1844.
(d) 1833.

3. During the Victorian period, economics became the province of __________. (fill in the blank)
(a) Professors.
(b) Politicians.
(c) Lawyers.
(d) Landowners.

4. What was the name of the publication of Engels' impressions after working for his father's textile business in England?
(a) Economic Laws of the Time.
(b) The Wealth of Nations.
(c) The Condition of the Working Class.
(d) Principles of Political Economy.

5. Veblen attacked the rich as he looked for what he called the __________. (fill in the blank)
(a) Earnest man.
(b) Honest man.
(c) Greedy man.
(d) Economic man.

6. The society that Marx believed would follow capitalism would be _________. (fill in the blank)
(a) Profitable.
(b) Classless.
(c) Well-planned.
(d) Wealthy.

7. Francis Ysidro Edgeworth was a graduate of what university?
(a) Yale.
(b) Harvard.
(c) The School of Economic Thought.
(d) Oxford.

8. Having spent some time in South Africa, Hobson returned to England and wrote what book?
(a) Progress.
(b) Imperialism.
(c) Capitalism.
(d) Capital.

9. Schumpeter's purpose is to describe where ________ originate. (fill in the blank)
(a) Wages.
(b) Incomes.
(c) Investments.
(d) Profits.

10. How does Schumpeter approach economics in a unique way in his book?
(a) He looks at an economy without any imperialsim.
(b) He looks at an economy without any innovation.
(c) He looks at an economy without any economic growth.
(d) He looks at an economy with great economic growth.

11. As imperialism waned or changed, what came into being?
(a) Tarriffs.
(b) Imminent domain.
(c) Free trade.
(d) Multinational corporations.

12. Henry George's favorite idea was called __________. (fill in the blank)
(a) The big tax.
(b) The single tax.
(c) Taxation without representation.
(d) Villages of Cooperation.

13. Marx's radicalism was ____________ rather than political. (fill in the blank)
(a) Religious.
(b) Educational.
(c) Philosophical.
(d) Theoretical.

14. What nationality is Karl Marx?
(a) Brittish.
(b) American.
(c) German.
(d) French.

15. According to The Communist Manifesto, what would be a transition period followed by pure Communism?
(a) Phalansterism.
(b) Capitalism.
(c) Socialism.
(d) Populism.

Short Answer Questions

1. From where did Veblen graduate with a Ph.D?

2. When were Schumpeter's theories considered true?

3. The time period Veblen analyzes is referred to as __________. (fill in the blank)

4. Keynes received an appointment to a Royal Commission studying what?

5. Where did Karl Marx and Friedrich Engels meet?

(see the answer keys)

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