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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. From where did Veblen graduate with a Ph.D?
(a) Yale.
(b) Cornell.
(c) Harvard.
(d) University of Chicago.

2. What book did Schumpeter write while working for an Egyptian princess?
(a) The Theory of Economic Development.
(b) Principles of Economics.
(c) Progress and Poverty.
(d) Tract on Monetary Reform.

3. What was Henry George a believer in?
(a) Socialism.
(b) Political economy.
(c) Imperialism.
(d) Phrenology.

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

5. The Communist Manifesto was the platform for _________. (fill in the blank)
(a) The Communist League.
(b) The Fair Trade Act.
(c) The Industrial Revolution.
(d) The Labor Movement.

Short Answer Questions

1. What year did Veblen die?

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

3. What nationality is Karl Marx?

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

5. Whose work was Schumpeter more familiar with than any other Western economists?

Short Essay Questions

1. What was the background of Thorstein Veblen?

2. What kind of tax did Henry George propose?

3. What was the background of Karl Marx?

4. What was dialectical materialism?

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

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

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

8. What is Joseph Schumpeter's background?

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

10. What is the background of John Maynard Keynes?

(see the answer keys)

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