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This quiz consists of 5 multiple choice and 5 short answer questions through The Heresies of John Maynard Keynes.

Multiple Choice Questions

1. When investment is less than ___________ , there is depression. (fill in the blank)
(a) Output.
(b) Spending.
(c) Savings.
(d) Income.

2. Keynes thought the best way to stimulate a flagging economy was through __________. (fill in the blank)
(a) Lower interest rates.
(b) Lower taxes.
(c) Higher wages.
(d) Private investments.

3. Where did Karl Marx and Friedrich Engels meet?
(a) Berlin.
(b) Paris.
(c) Brussels.
(d) London.

4. At what university was Adam Smith on the faculty?
(a) Harvard.
(b) University of Glasgow.
(c) Oxford.
(d) University of England.

5. Keynes received an appointment to a Royal Commission studying what?
(a) Indian currency.
(b) Monetary reform.
(c) The market crash.
(d) Unemployment.

Short Answer Questions

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

2. Adam Smith was considered a non-conformist because he refused to do what before classes?

3. How many years did it take Adam Smith to finish The Wealth of Nations?

4. What was the name of the publication of Engels' impressions after working for his father's textile business in England?

5. Adam Smith defined wealth in terms of what?

(see the answer key)

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