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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. It was rumored that Veblen was fluent in how many languages?
(a) 26.
(b) 22.
(c) 7.
(d) 16.

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

3. Who sent a letter to his business associates threatening to ruin them?
(a) William Rockefeller.
(b) J. Pierpont Morgan.
(c) Cornelius Vanderbilt.
(d) Henry Rogers.

4. Because John A. Hobson was labeled as a __________, he turned his attention to South Africa. (fill in the blank)
(a) Genius.
(b) Heretic.
(c) Communist.
(d) Fantasizer.

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

Short Answer Questions

1. What did Edgeworth use to support his theories?

2. Where did Keynes attend college?

3. According to Engels and Marx, what does "dialectical" mean?

4. Francis Ysidro Edgeworth was a graduate of what university?

5. The Communist Manifesto was the platform for _________. (fill in the blank)

Short Essay Questions

1. What was the economic situation in the early 1900's in America?

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

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

4. What was the premise of Veblen's book, The Theory of the Leisure Class?

5. What was the background of Friedrich Engels?

6. What is Joseph Schumpeter's background?

7. What is the premise of Joseph Schumpeter's The Theory of Economic Development?

8. What is the background of John Maynard Keynes?

9. What were Veblen's views on capitalism in The Theory of Business Enterprise?

10. What was dialectical materialism?

(see the answer keys)

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