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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. John Stuart Mill's book was written when he was in his forties. What is the name of the book?

2. At what university was Adam Smith on the faculty?

3. Heilbroner says the work of economist is both exciting and _________. (fill in the blank)

4. What kind of survival has man faced from the earliest days on?

5. Owen's idea was totally contrary to the doctrine of _________. (fill in the blank)

Short Essay Questions

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

2. What was New Lanark?

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

4. Why did opponents of humanitarian legislation propose Smith's idea of laissez-faire?

5. What was the mission of the Grand National labor union?

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

7. Why was Ricardo against the Corn Laws?

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

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

10. What led to the introduction of a poor-relief bill and what did it encourage?

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

Who were the underground economists? What were their theories? What was the historical significance of these theories?

Essay Topic 3

How did Marx teach us "not just to look at, but through, history"? What aspects of Marx's theories are still valid today?

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