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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. Marx and Engels thought the revolution would occur in an advanced industrial economy like _________. (fill in the blank)
(a) Germany.
(b) America.
(c) France.
(d) England.

2. It was rumored that Veblen was fluent in how many languages?
(a) 16.
(b) 26.
(c) 7.
(d) 22.

3. The world of economics was subject to the ridicule of whom?
(a) Stanley Jevrons.
(b) Leon Walras.
(c) Francis Ysidro Edgeworth.
(d) Frederic Bastiat.

4. What did Edgeworth use to support his theories?
(a) Physics.
(b) Chemistry.
(c) Calculus.
(d) Algebra.

5. Marx's radicalism was ____________ rather than political. (fill in the blank)
(a) Educational.
(b) Religious.
(c) Philosophical.
(d) Theoretical.

Short Answer Questions

1. What did Veblen call individual churches?

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. In what year did Keynes publish his Tract on Monetary Reform?

4. How does Schumpeter approach economics in a unique way in his book?

5. During the Victorian era, the field of study became known as economics and not ___________. (fill in the blank)

Short Essay Questions

1. Why did Keynes decide his Treatise on Money was incorrect?

2. Why was John A. Hobson labeled at heretic?

3. What kind of tax did Henry George propose?

4. What was Veblen's theory about the Savage Society?

5. What was the premise of The Communist Manifesto?

6. What was Francis Ysidro Edgeworth's theory?

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

8. What was the background of Karl Marx?

9. Which of Marx's concepts turned out to be true?

10. What was the background of Friedrich Engels?

(see the answer keys)

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