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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. In Mills' model, wages would rise as a result of accumulation of capital. Eventually, the accumulation process would come to an end and enter what stage?
(a) Phanlansteries.
(b) Capitalism.
(c) Communism.
(d) Benign socialism.

2. Who failed to recognize the wealth creating ability of labor?
(a) Smith.
(b) Quesnay.
(c) Hume.
(d) Locke.

3. The first stop on Heilbroner's description of how economists became necessary to society is France in what year?
(a) 1305.
(b) 1776.
(c) 1630.
(d) 1550.

4. What did the market system become known as?
(a) Capitalism.
(b) Populism.
(c) Marxism.
(d) Communism.

5. Which legislation resulted in duties on grain imports and remained in effect for thirty years?
(a) British Market Laws.
(b) Wheat Laws.
(c) Corn Laws.
(d) Parliment Laws.

Short Answer Questions

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

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

3. Heilbroner describes a trial of a wealthy man before the church in Boston in what year?

4. To Heilbroner, what is the common denominator at the core of these men with diverse backgrounds?

5. Who started New Lanark?

Short Essay Questions

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

2. What was the premise of Malthus's An Essay on the Principle of Population as it Affects the Future Improvement of Society?

3. What is the difference between markets and the market system?

4. How did the Corn Laws benefit the landowners?

5. What is the proof that there is not a perfect solution to man's survival?

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

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

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

9. How did Charles Fourier propose to reorganize the Earth he believed was characterized by chaos and unhappiness?

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

(see the answer keys)

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