California Polytechnic State University, San Luis Obispo

SS 121

Quiz 9: Political Economy

Question 1)According to Smith, what is the one factor that has led to the the greatest increase of economic production?

• The introduction of money
• The invisible hand of the market
• The development of machines

• The division of labor

Question 2

Which of the following is not a consequence of the division of labor according to Smith?

• The increase in poverty

• The increase of dexterity
• The development of machines
• The saving of time

Question 3

What does Smith mean by the "invisible hand"?

• The unnoticed effect that government regulation has on business

• That by pursuing our own ends in the market we actually benefit the whole

• Those hidden, psychological impulses that cause us to act in sympathy with others
• The effect of greed on the expanse of markets

Question 4

Smith, writing in 1776, says what about the relation between England and its North American colonies?

• That the colonies are important to England's international standing.

• That England might be better off without the colonies.

• That the colonists right to self-determination should be respected.
• The colonies should be forced to pay their fair share of the common defense.

Question 5

According to Marx, the division of labor makes labor-

• An expression of human freedom

• A commodity

• A noble undertaking
• An unnecessary undertaking

Question 6

According to Marx, which of the following is not a consequence of the alienation of labor?

• Alienation from the product of labor

• Alienation from one's money

• Alienation from one's humanity
• Alienation from the process of labor

Question 7

Marx says that the origin of the morality of any given age is

• The religious doctrine of that age.

• The economic conditions of that age.

• The philosophical thinking of that age.
• The political structure of that age.

Question 8

What does Marx think is so unique about the age he is writing about in the Manifesto?

• Industrialization has progressed as far as it is possibly can

• Class conflict has been reduced just to two competing classes

• That feudalism is no longer an effective force
• It is dominated by class conflict