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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. Marx and Engels thought the revolution would occur in an advanced industrial economy like _________. (fill in the blank)
(a) France.
(b) Germany.
(c) England.
(d) America.

2. What does "bourgeoisie" mean?
(a) The overbearing government.
(b) The dying aristocracy.
(c) The exploitative middle class.
(d) The underachieving lower class.

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

4. What year did Veblen die?
(a) 1930.
(b) 1929.
(c) 1931.
(d) 1927.

5. Veblen was considered by the academic world to be what?
(a) An economist.
(b) A nonconformist.
(c) A satirist.
(d) A flake.

Short Answer Questions

1. Where was Joseph Schumpeter educated?

2. What did Veblen call individual churches?

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

4. The stock market crashed in what year?

5. According to The Communist Manifesto, what would be a transition period followed by pure Communism?

Short Essay Questions

1. What was Keynes theory about savings?

2. What is Joseph Schumpeter's background?

3. What was the flaw in capitalism according to Hobson?

4. Why was John A. Hobson labeled at heretic?

5. What is the background of John Maynard Keynes?

6. What was Veblen's theory about the Savage Society?

7. What was the premise of The Communist Manifesto?

8. What kind of tax did Henry George propose?

9. What is Keynes's theory in Tract on Monetary Reform?

10. Why did Thorstein Veblen feel compelled to write about American economics?

(see the answer keys)

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