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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. The first stop on Heilbroner's description of how economists became necessary to society is France in what year?
(a) 1630.
(b) 1776.
(c) 1305.
(d) 1550.

3. By what decade was Malthus proved wrong?
(a) 1990's.
(b) 1980's.
(c) 1970's.
(d) 1950's.

4. Who is to blame for the lack of glamour in the field of economics?
(a) The press.
(b) Economists.
(c) Citizens.
(d) Students.

5. "Each should do what was to his best monetary advantage" describes what system?
(a) Tradition.
(b) Market.
(c) Authority.
(d) Religion.

Short Answer Questions

1. Which legislation resulted in duties on grain imports and remained in effect for thirty years?

2. What is the biggest danger facing a modern community?

3. Saint-Simone was a firm believer in _________. (fill in the blank)

4. Most of the featured economists could never master _________. (fill in the blank)

5. What year did the British Labor Movement begin?

Short Essay Questions

1. What were the beliefs of the Saint-Simonians?

2. How did the Corn Laws benefit the landowners?

3. What is the difference between markets and the market system?

4. Why did opponents of humanitarian legislation propose Smith's idea of laissez-faire?

5. What was New Lanark?

6. What is the role of self-interest in the market place, according to Adam Smith?

7. What was the market system?

8. What was the premise of Adam Smith's first book, The Theory of Moral Sentiments?

9. What is the greatest danger to survival in an advanced society?

10. What does Heilbroner say in his introduction that the worldly philosophers did "quietly and inconspicuously"?

(see the answer keys)

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