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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. In The Wealth of Nations, _________ are used as examples of how the market functions. (fill in the blank)

2. While in prison, who did Saint-Simone claim appeared to him, telling him to become a philosopher?

3. What theory explains that higher wages will call forth more workers because higher wages result in better living conditions and lower mortality figures?

4. Ricardo was the son of a Jewish merchant banker from _________. (fill in the blank)

5. Pamphlets printed at the time of his work compared Malthus with whom?

Short Essay Questions

1. How did David Ricardo view society?

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

3. What did most people in ancient societies aspire to?

4. What was Owen's idea to combat poverty?

5. Why was Ricardo against the Corn Laws?

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

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

8. What does Heilbroner say that economists provide?

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

Explain from a historical standpoint how the market system came into existence. Include specific dates, events, etc. to support your explanation.

Essay Topic 3

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

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