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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Eventually the market system evolved with its necessary factors of _________ for production. (fill in the blank)

2. To Heilbroner, what is the common denominator at the core of these men with diverse backgrounds?

3. According to Ricardo, which class was the only class in English society which could benefit from its hold on grain prices?

4. Mill's book pointed out that the true province of economic law was production, not _________. (fill in the blank)

5. Malthus's essay earned economics the nickname _________. (fill in the blank)

Short Essay Questions

1. What was the cause of the creation of the labor class in England?

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

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

4. What does Heilbroner say that economists provide?

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

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

7. What was New Lanark?

8. Why did economics not begin with Adam Smith as many people believe?

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

10. How did David Ricardo view society?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What did Thorstein Veblen discover when "he delved into the nature of the economic man and his economic rites and rituals"? Discuss fully his approach to economics and his theories as well as how both were received by society.

Essay Topic 2

What did Keynes discover about what caused the business cycles, the alternating periods of prosperity and depression or boom and bust? What role does nervous hysteria play in these cycles?

Essay Topic 3

How did Marx and Keynes each "exert the profoundest influence on the philosophy of the capitalist system"?

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This section contains 806 words (approx. 3 pages at 300 words per page) View a FREE sample