Quiz 2

Quiz 2 - ECN 111 SLN 76868 Macroeconomic Principles...

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ECN 111 SLN 76868 Professor Happel Macroeconomic Principles Quiz 2 Spring, 2006 9:15-10:30 MW Select only one answer per questions. Remember that if any part of an answer is false, then the entire answer is false. 1. Which of the following statements about Marx’s life is false ? a) He was a troublemaker in college and was kicked out of Bonn University. b) He was a journalist for the New York Tribune . c) In the Communist Manifesto (1848), he called for the workers of the world to unite and throw off their chains. d) He was a very religious person and criticized Darwin’s ideas on evolution. e) Near the time of his death he said, “I am not a Marxist.” 2. According to Marx’s arguments in Das Kapital (1867), which of the following is false ? a) All counties must pass through five stages: chaos, feudalism, capitalism, socialism, and communism. b) Feudalism is a necessary stage because it imposes order to chaos, but feudalism breaks down because it is too rigid socially. c) Marx argued that laissez faire capitalism (the first stage of capitalism) is very equitable but quite inefficient. d) Marx argued that new technology is labor saving and creates surplus supplies of labor. e) Marx argued in the Communism stage there will be no need for government due to the abundance of goods. 3.
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Quiz 2 - ECN 111 SLN 76868 Macroeconomic Principles...

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