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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. What was the name of Marx's devoted wife?

2. According to Schumpeter, a(n) __________ of some sort results in a flow of income that does not come from labor or other resource owners.

3. What did Schumpeter call a person who introduced change into economic life?

4. It was rumored that Veblen was fluent in how many languages?

5. Critics of Edgeworth pointed to ____________ as evidence that man did not always act on his own behalf. (fill in the blank)

Short Essay Questions

1. Why did Thorstein Veblen feel compelled to write about American economics?

2. What is the background of John Maynard Keynes?

3. What was the premise of The Communist Manifesto?

4. What was Keynes theory about savings?

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

6. What was the background of Karl Marx?

7. What was Joseph Schumpeter's theory about the Great Depression?

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

9. What connection does Schumpeter make between capitalism and sociological success?

10. What was the surplus value theory?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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

Essay Topic 2

Explain the historical and philosophical roots of capitalism. Use specific evidence from the book to support your explanation.

Essay Topic 3

Who were the Utopian Socialists and what was the significance of their economic theories? Describe this group of thinkers and their contributions to economic theory and thought.

(see the answer keys)

This section contains 954 words (approx. 4 pages at 300 words per page) View a FREE sample