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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. How many of the economists featured in the book made their own fortune?

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

3. What year was The Wealth of Nations published?

4. What has played a central role in population control in the Western hemisphere?

5. What helped bring an end to the religiousness of the population in Europe?

Short Essay Questions

1. What was New Lanark?

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

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

4. How did David Ricardo view society?

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

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

7. What does Heilbroner say that economists provide?

8. How does Heilbroner describe the nine economist in his introduction?

9. What was the market system?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What role did imperialism play in permanently altering capitalism? What did imperialism ultimately lead to? What impact did that have on modern economic theories?

Essay Topic 2

Why, even with all of the economic issues that confront society, are most economists not classified as worldly philosophers? Answer fully through the historical context of the great economic thinkers discussed in the book.

Essay Topic 3

Why did Keynes think business cycles had to be countered by government intervention? What did he call this and what did he propose governments do? How did this vary from Adam Smith's views?

(see the answer keys)

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