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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. _________ is a manner of organizing society so all tasks are performed. (fill in the blank)
(a) Social compatibility.
(b) Religion.
(c) Self-reliance.
(d) Tradition.

2. What describes how investment can lead to greater output?
(a) Law of Accumulation.
(b) Law of Economics.
(c) Law of Assimilation.
(d) Law of Population.

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

4. What helped bring an end to the religiousness of the population in Europe?
(a) The Industrial Revolution.
(b) Foreign exploration.
(c) The Italian Renaissance.
(d) The death of the pope.

5. Adam Smith left his university position to become a private tutor and traveled through which country?
(a) China.
(b) America.
(c) Russia.
(d) France.

Short Answer Questions

1. What is production dependent upon?

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

3. According to Heilbroner, economists changed the world not through __________, but through power of their ideas. (fill in the blank)

4. By what decade was Malthus proved wrong?

5. The market system was compelled largely by what idea?

Short Essay Questions

1. What factors determine a nation's wealth, according to Adam Smith?

2. What does Heilbroner say that economists provide?

3. What is the proof that there is not a perfect solution to man's survival?

4. What is Adam Smith's Invisible Hand Theory?

5. How did Charles Fourier propose to reorganize the Earth he believed was characterized by chaos and unhappiness?

6. Why does Heilbroner find it strange that people don't know about the worldly philosophers?

7. What was the mission of the Grand National labor union?

8. How did Ricardo and Malthus differ in their views?

9. What does Heilbroner say is the core of economics?

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

(see the answer keys)

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