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

2. Dr. Richard Price felt that the population had declined by how much?
(a) 30%.
(b) 10%.
(c) 50%.
(d) 20%.

3. Who failed to recognize the wealth creating ability of labor?
(a) Locke.
(b) Smith.
(c) Hume.
(d) Quesnay.

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

5. What is production dependent upon?
(a) Nature.
(b) Profits.
(c) Wages.
(d) Distribution.

Short Answer Questions

1. 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?

2. It is the forces of ______ that make the market function according to Adam Smith. (fill in the blank)

3. Pamphlets printed at the time of his work compared Malthus with whom?

4. What are economists considered by the rules of schoolboy history books?

5. At the beginning of the 1800's, England had two strong classes emerge; an _________ class and an agricultural class. (fill in the blank)

Short Essay Questions

1. How was English society divided at the time of Adam Smith?

2. How did the Corn Laws benefit the landowners?

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

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

5. Who was Count Henri de Rouvroy de Saint-Simone?

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

7. What did most people in ancient societies aspire to?

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

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

10. What does Heilbroner say that economists provide?

(see the answer keys)

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