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

Multiple Choice Questions

1. Schumpeter's book makes a distinction between ___________ successes and sociological successes. (fill in the blank)
(a) Monetary.
(b) Economic.
(c) Global.
(d) Philosophical.

2. What was the title of Veblen's first book?
(a) The Politics of Economics.
(b) The Theory of Business Enterprise.
(c) The Condition of the Working Class.
(d) The Theory of the Leisure Class.

3. What did Veblen call individual churches?
(a) Time wasters.
(b) Retail outlets.
(c) Houses of God.
(d) Places of ill repute.

4. Where was The Communist Manifesto written?
(a) Paris.
(b) Berlin.
(c) London.
(d) Brussels.

5. The world of economics was subject to the ridicule of whom?
(a) Frederic Bastiat.
(b) Francis Ysidro Edgeworth.
(c) Stanley Jevrons.
(d) Leon Walras.

6. The time period Veblen analyzes is referred to as __________. (fill in the blank)
(a) The Roaring Twenties.
(b) The Golden Age of America.
(c) The Victorian Period.
(d) The Great Depression.

7. How old was Veblen when he got his first paying job?
(a) Fifteen.
(b) Twenty-five.
(c) Forty-five.
(d) Thirty-five.

8. What did Schumpeter call a person who introduced change into economic life?
(a) An investor.
(b) An entrepreneur.
(c) An innovator.
(d) An iInventor.

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

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

11. According to Engels and Marx, what does "dialectical" mean?
(a) Change.
(b) Diverse.
(c) Chance.
(d) Discussion.

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

13. Critics of Edgeworth pointed to ____________ as evidence that man did not always act on his own behalf. (fill in the blank)
(a) Factories.
(b) Labor laws.
(c) Trade unions.
(d) Farms.

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

15. What did Marx's father hope he would study?
(a) Religion.
(b) Medicine.
(c) Law.
(d) Politics.

Short Answer Questions

1. What was the name of Marx's devoted wife?

2. According to Marx, which class had something to fear?

3. The society that Marx believed would follow capitalism would be _________. (fill in the blank)

4. Between 1870 and 1914, what percentage of English savings were invested abroad?

5. Keynes thought the best way to stimulate a flagging economy was through __________. (fill in the blank)

(see the answer keys)

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