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Topic 6: Marxism

1.

Dialecticism as an evolutionary technique that humans use to understand the world and the
universe was first developed by: (a) Ludwig Feurbach. (b) Georg W.F. Hegel. (c) Leonid
Kantorovich. (d) Karl Marx. (e) Eugen von Bohm-Bawerk.

2.

The theory of dialecticism hypothesizes that theses generate antitheses, with interactions
between such concepts then yielding syntheses that advance human understanding. This
theory was first described by: (a) Isaac Newton. (b) Ludwig Feurbach. (c) Pierre-Simon
Laplace. (d) Pierre de Fermat. (e) Karl Marx. (f) Georg Hegel. (g) Gottfried Leibniz.

3.

Karl Marx was profoundly influenced by the passage, History is not a sequence of
accidental occurrences or a collection of disconnected stories; rather, it is an organic process
guided by human spirit. The writer of this sentence was the German idealist philosopher: (a)
Friedrich Engels. (b) Karl Marx. (c) Pierre Joseph Proudhon. (d) Georg Hegel. (e) Charles
Fourier.

4.

The foundations of Karl Marxs dialectical materialism came from the philosopher: (a)
Georg Hegel. (b) Immanuel Kant. (c) Thomas Hobbes. (d) John Locke. (e) David Hume.

5.

Dialectics involves interactions of thesis and antithesis leading to: (a) electrokinesis. (b)
photosynthesis. (c) hypothesis. (d) synthesis. (e) dissertation.

6.

Synthesis is the end result of: (a) materialism. (b) deduction. (c) the equimarginal principle.
(d) dialectics. (e) diffusion.

7.

The theory that dialectical processes [thesis + antithesis synthesis] yield increased
understanding about how the world works was first exposited by: (a) Aristotle. (b) Georg
Hegel. (c) Karl Marx. (d) Isaac Newton. (e) Adam Smith. (f) David Ricardo. (g) Friedrich
Engels. (h) John Stuart Mill. (i) David Hume. (j) Ludwig Feurbach. (k) John Locke.

8.

Georg Hegel theorized that a concept (thesis) confronts its opposite (antithesis) to yield a
synthesis that advances human understanding. Karl Marx modified this theory into his
philosophy called: (a) dialectical materialism. (b) synergy. (c) atheism. (d) anarcho-syndicalism.

9.

The Marxist theory of dialectical materialism theoretically follows a sequence: (a) synthesis
thesis antithesis. (b) antithesis synthesis thesis. (c) thesis antithesis
synthesis. (d) synthesis antithesis thesis. (e) thesis synthesis antithesis

10.

Terms associated with dialectical analysis would include: (a) class warfare and the labor theory
of value. (b) thesis, antithesis, and synthesis. (c) syndicates and worker cooperatives. (d)
anarchy and chaos.

11.

The term that is least closely related to the others is: (a) free will. (b) dialectical materialism.
(c) path dependency. (d) hysterisis. (e) historicism.

12.

Dialectic materialism is a cornerstone of: (a) Marxism. (b) socialism. (c) communism. (d)
capitalism. (e) Utopianism.

13.

Karl Marx theorized that the ultimate transition from capitalism to communism is an
inevitable consequence of: (a) laws of motion. (b) dialectical idealism. (c) path dependency.
(d) social homeostasis.
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14.

The laws of motion that Karl Marx hypothesized as inevitably sweeping capitalism into the
dustbin of history are an example of a metaphysical view called: (a) hysterisis.(b)
homeostasis. (c) determinism. (d) fundamentalism. (e) path dependency.

15.

Karl Marxs dialectical materialism borrowed dialecticism from ____________ and revised a
form of materialism developed _______________. (a) Hegel; Feurbach. (b) Kant; Hegel. (c)
Engels; Bhm-Bawerk. (d) Feurbach; Schmoller. (e) Kantorovich; Heinrich.

16.

Ludwig Feurbach combined materialism, a perspective explored at least as early as the ancient
Greeks, with the dialectical method of Georg Hegel, in a theory Feurbach called dialectical
materialism. Feurbachs philosophy, with slight revision, became a cornerstone of: (a) nihilism.
(b) marginalism. (c) Marxism. (d) mercantilism. (e) anarcho-syndicalism.

17.

History unfolds from dialectical interactions of material things and events that are crystallized in
class struggle according to the theories of: (a) Mohandas Gandhi. (b) Karl Marx. (c) Fabian
Proudhon. (d) Georg Hegel. (e) Maximilian Schell.

18.

Karl Marx believed that the unfolding of history is explained by: (a) the clash between thesis
and antithesis to yield synthesis in the ways societies produce, exchange, and distribute
economic goods. (b) dialectical idealism. (c) resolutions to conflicts between different political
parties. (d) competition among workers that ensures high standards of living.

19.

Karl Marx believed that: (a) Georg Hegel was correct to focus on ideas. (b) history unfolds from
the dialectical interactions of material things and events. (c) communal socialism would be
replaced by feudalism. (d) capitalism is inherently stable because it involves no class conflicts.
(e) value is the sum of wages, interest, and rents.

20.

The dialectical materialism espoused by Karl Marx and Friedrich Engels holds that the
ultimate causes of all social change originate in: (a) the minds of men and women. (b) a
revolution to overthrow the ruling class. (c) the philosophies of great scholars, (d) the
lectures of economics professors. (e) internal contradictions in the methods of production
and exchange.

21.

Marxists believe that: (a) human history can be interpreted as resolutions of conflicts between
the people of different economic classes. (b) pure history is a mathematical science. (c) changes
in human ideas are responsible for the unfolding of history. (d) historical change can be ignored
because only the present and future matter.

22.

According to Marxist dialectics, the antithesis that develops as capitalism matures is: (a) an
exploited proletariat. (b) peaceful cooperation. (c) wage fund theory. (d) cooperative
agriculture. (e) population control.

23.

Neither the dialectic method developed as an explanation for advances in understanding by


Georg Hegel nor the version altered by Karl Marx as an explanation of all history (dialectical
materialism) would be particularly consistent with the notion that: (a) thesis +antithesis
synthesis. (b) Marxism + Christian socialism liberation theology. (c) mature capitalism +
exploited proletariats revolution. (d) individual aptitude + individual effort economic
success. (e) long + short distance.

24.

Karl Marx combined Georg Hegels theory of _________ with __________ theory of
materialism to form his views of how historical processes unfold. (a) dialectics/ Hegels. (b)
surplus value/ David Ricardos. (c) socialism/ Thomas Mores. (d) Dialectics/ Feuerbachs.

25.

According to Karl Marx, the properties that distinguish commodities do not include: (a)
useful. (b) produced by human labor. (c) offered for sale in the market. (d) inseparable from
the individual that produced them.

26.

Karl Marx theorized that capitalists would use the surplus value they exploited from
workers primarily to: (a) increase wages above a subsistent level (b) hire more workers (c)
invest and become wealthier (d) develop new technology.

27.

Karl Marx cited as among important contradictions inherent in the nature of capitalist
production that would lead ultimately to the destruction of capitalism classical predictions
from Adam Smith and David Ricardo about the inevitability of: (a) falling rates of profit. (b)
conflicts between the interests of workers and landowners. (c) the subjective theory of value
superceding the labor theory of value. (d) an unsustainable, and rising reserve army of the
unemployed. (e) the triumph of socialism over capitalism.

28.

According to Marxist thought, each person contributes to the economic process according to
his or her ability and receives an income according to his or her contribution under
___________; whereas, each person contributes according to his or her ability but consumes
according to his or her needs under____________. (a) libertarianism / syndicalism. (b)
capitalism / communism. (c) anarcho-syndicalism / socialism. (d) socialism / communism.

29.

Karl Marx predicted that the rate of profit would fall over time because capitalist competition
and diminishing returns would offset technological advances. Similar predictions are found
nowhere in the writings of: (a) Adam Smith. (b) David Ricardo. (c) Thomas Malthus. (d)
John Stuart Mill. (e) Ralph Waldo Emerson.

30.

According to Marxist theory, the forces of production are ___________and the relations of
production are ___________. (a) dynamic / static. (b) manifested in labor skills, scientific
knowledge, tools, and capital goods / manifested in the social superstructure of the arts,
literature, music, etc. (c) technology [a thesis]; institutions [the antithesis]. (d) the thesis in
the Marxian dialectic; the antithesis in the Marxian dialectic. (e) both c and d. (f) all of the
above. (g) none of the above

31.

In his The Poverty of Philosophy, ___________ annihilated The Philosophy of Poverty


written by __________, because ___________ refused to join forces with him because of his
inability to entertain dissent. (a) Friedrich Engels, Thorstein Veblen, Veblen (b) Pierre
Proudhon, Karl Marx, Marx (c) Karl Marx, Pierre Proudhon, Proudhon (d) Pierre Proudhon,
Friedrich Engels, Engels (e) Thorstein Veblen, Karl Marx, Marx

32.

According to Karl Marx, the capitalists and their bourgeois lackeys will be cast into the
dustbin of history as a consequence of: (a) worker revolution, which will be followed by a
dictatorship of the proletariat, and finally, communism. (b) democratic socialism resulting in
the nationalization of all industries. (c) a military coup, succeeded by a military dictatorship.
(d) central planning under socialism, yielding an accelerated rate of economic growth. (e)
imperialistic wars that result in the eventual triumph of nations lead by communists.

33.

The early proponent of communism with a taste for bourgeois pleasures who owned and
managed a textile factory was: (a) Karl Marx. (b) Georg Hegel. (c) Friedrich Engels. (d)
Ludwig Feurbach. (e) Joseph Stalin.

34.

Karl Marx's chief collaborator, best friend, and greatest admirer was the industrialist: (a) Sir
Thomas More. (b) Robert Owen. (c) Friedrich Engels. (d) William Godfrey.

35.

The ideas of Karl Marx are most frequently associated with those of: (a) Theodore Herzl, an
early Zionist. (b) St. Thomas More, an advisor to Henry VIII. (c) Friedrich Engels, a factory
owner in England. (d) Joseph Proudhon, an early syndicalist.

36.

In The Communist Manifesto, Marx and Engels called for a: (a) greater reliance on the
principle of comparative advantage. (b) regressive income tax. (c) proportional income tax.
(d) world government to resolve international disputes. (e) progressive income tax.

37.

Not among the primary underpinnings of Karl Marxs theories was: (a) the labor theory of
value. (b) Hegels dialecticism. (c) Feurbachs materialism. (d) Carl Mengers marginalism.

38.

NOT among the key tenets of Marxism would have been: (a) von Thunens theory of
economic rent. (b) dialectical materialism. (c) a reserve army of the unemployed. (d) a
labor theory of value.

39.

The powerful transformative effects of the spread of the market system in the process we
now call globalization were most accurately predicted and vividly described by: (a) Adam
Smith and Thomas Robert Malthus. (b) Richard Cantillon and Sir William Petty. (c) Karl
Marx and Friedrich Engels. (d) Bernard de Mandeville and Philipp Wilhelm von Hornick. (e)
Ibn Khaldun and Abu Hamid al-Ghazali.

40.

The increasing pervasiveness of the market system around the world tends to standardize
technologies while reducing production costs for commodities and services. Incredible wealth
has been generated internationally while national borders have shrunk in significance. These
consequences of globalization were forecast in the greatest detail and the most vivid language in:
(a) The Communist Manifesto, by Karl Marx and Friedrich Engels. (b) David Humes The Specie
Flow Mechanism. (c) Essay on the Principle of Population, by Thomas Robert Malthus. (d)
Principles of Political Economy, by John Stuart Mill. (e) Tableau Economique, by Franois
Quesnay.

41.

Subsequent history seems most supportive of Karl Marxs prediction that: (a) advanced
capitalist nations would succumb to communist revolutions. (b) industries, wealth and
political power would become increasingly concentrated. (c) political boundaries would
decrease in importance as market economies became globalized. (d) the middle class would
eventually become as impoverished as the working class. (e) government would become
insignificant after the triumph of radical socialism.

42.

Karl Marxs notion that most people advocate social or legal reforms favoring the interests of
groups to which they personally belong, and that they then erect ethical arguments to support
such positions is known as: (a) self interested opportunism. (b) nave egoism. (c) class interest
or class conflict. (d) dialectical materialism. (e) myopic solipsism.

43.

Points of agreement between Marxists and most other socialists include the idea that: (a)
capitalism will be overthrown by a short but violent revolution. (b) dialectical materialism is the
key to all major historic changes. (c) government should be society's trustee over non-property
resources. (d) an elite group should dominate major social decision making. (e) service work is
more important than commodity production.

44.

Interest, rent and profit are collectively known by Marxists as: (a) materialistic bloat. (b)
dialectics. (c) finance capital. (d) exploitation indicators. (e) surplus values.

45.

The Marxist concept of surplus value would not include income received in the form of: (a) wages.
(b) rent. (c) interest. (d) corporate profits. (e) proprietor profits.

46.

In Marxist analysis: (a) ideas are more important than economic forces in changing history. (b)
the capitalist stage of economic development succumbs to feudalism. (c) the final stage of
development is the dictatorship of the proletariat: (d) value depends on the labor time socially
necessary for production.

47.

The labor theory of value remains an article of faith among most orthodox: (a) libertarians. (b)
capitalists. (c) Keynesians. (d) Marxists. (e) Catholics.

48.

Karl Marx largely accepted the classical supply-side theory of relative price determination
known as the: (a) labor theory of value. (b) diamond-water paradox. (c) human capital
differential. (d) equation of exchange. (e) subjectivism.

49.

In Marxist jargon, capitalists are also known as the: (a) proletariat. (b) bourgeoisie. (c)
plebeians. (d) protagonists.

50.

In Marxist jargon, working class people are known as the: (a) proletariat. (b) petit bourgeoisie.
(c) plebeians. (d) protagonists. (e) patricians.

51.

Karl Marxs theory of society was summarized in a social pyramid which, from bottom to
top, was. (a) forces of production relations of production social superstructure. (b)
relations of production forces of production social superstructure. (c) social
superstructure forces of production relations of production. (d) forces of production
social superstructure relations of production.

52.

According to Marx, economic history: (a) is determined by the interaction of Aggregate


Demand and Aggregate Supply. (b) is the result of class struggles. (c) will reach its pinnacle
when centrally-planned socialism replaces capitalism. (d) arises when new social and
philosophical ideas are introduced into the economic structure.

53.

In Karl Marx's analysis of the capitalist economy: (a) economic growth is impossible. (b)
capitalism is effective at increasing capacity in its early stages. (c) supply automatically creates
demand. (d) socialism historically precedes capitalism. (e) capitalism is a stage that
unfortunately assures Thomas Malthus proposition that overpopulation is inevitable.

54.

The powerful transformative effects of the spread of the market system in the process we
now call globalization were most accurately predicted and vividly described by: (a) Adam
Smith and Thomas Malthus. (b) Richard Cantillon and Sir William Petty. (c) Karl Marx and
Friedrich Engels. (d) Bernard de Mandeville and Philipp Wilhelm von Hornick. (e) Ibn
Khaldun and Abu Hamid al-Ghazali.
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55.

According to Karl Marx one of the inevitable steps in the historical processes that facilitate
economic progress would be: (a) nuclear warfare. (b) class warfare. (c) dialectical warfare.
(d) capitalist revolution. (e) dictatorship of the bourgeoisie.

56.

A necessary historical process (according to Marxists) that facilitates economic progress is: (a)
dialectical idealism. (b) the bourgeoisie revolution. (c) class warfare. (d) central planning.

57.

According to Karl Marx, revolution would inevitably come from the oppressed workers,
known as the: (a) proletariat. (b) patricians. (c) bourgeoisie. (d) panacea. (e) petit
bourgeoisie.

58.

Karl Marx recognized, as Adam Smith had previously, that the development of productive
forces in every economy depends upon ______, but unlike Smith, Marx saw a conflict of
interests as the logical outcome. (a) wages-fund doctrine (b) division of labor (c) dialectics
(d) capital accumulation (e) dictatorship of the proletariat.

59.

Karl Marxs approach to economic theory is largely Ricardian, but his analysis relies least on
David Ricardos: (a) theories of income distribution. (b) Lockean labor theory of value. (c)
Iron Law of Wages. (d) incorporation of Malthuss theories of population. (e) Law of
Comparative Advantage.

60.

Markets as mechanisms for exchange began to significantly outweigh individual trading


relatively late in the period that Karl Marx characterized as: (a) prehistory. (b) primitive
culture. (c) feudalism. (d) monarchism. (e) the industrial revolution. (f) capitalism.

61.

Karl Marx theorized that the stage of economic development that immediately precedes the
final state of communism or socialism would be: (a) capitalism. (b) primitive culture. (c) a
dictatorship of the proletariat. (d) feudalism.

62.

Marxists believe that capitalists have: (a) marginal and average propensities to consume equal to
one. (b) insatiable desires to compete until dominance is established. (c) control over working
conditions, and that they set wages and the length of the working day. (d) the same goals in life
as workers.

63.

According to an unrevised Marxian economic model: (a) only capitalists are able to save any of
their incomes. (b) workers receive wages above the subsistence level. (c) most workers could
become capitalists if they worked harder. (d) successful capitalist's children are usually less
successful.

64.

Marx argued that exploitation of labor is the source of capital accumulation by capitalist
enterprises which seek to increase surplus value by substituting capital for: (a) labor. (b)
higher wage rates. (c) rents. (d) proletariats. (e) leisure time.

65.

According to unrevised Marxist economic models: (a) workers have a lower marginal
propensity to save than capitalists. (b) workers have a lower marginal propensity to consume
than capitalists. (c) workers and capitalists save about the same amount of every dollar. (d)
workers and capitalists spend about the same amount of every dollar. (e) pure competition
leaves capitalists with no possibility of profits.

66.

According to Karl Marx, the fundamental reason capitalism is morally reprehensible is


because: (a) free trade does not allow citizens of the country to compete with foreign
producers as effectively. (b) individual workers are exploited because they do not derive the
full value of their labor. (c) the government should not be allowed to tax less wealthy
individuals as much as wealthier individuals. (d) people cannot actively participate in the
government. (e) free trade exploits human greed and thus should be regulated.

67.

Marxists do not believe that: (a) capitalism is inherently unstable. (b) fully mature capitalistic
economies will fall to communism. (c) capitalistic economies will be plagued by underconsumption and declining profit rates during their final stages. (d) communism represents the
final stage in human history. (e) equity in the distribution of income can be achieved under
capitalism.

68.

Orthodox Marxists do not believe that fully mature capitalism: (a) is plagued by inherently
unstable business cycles. (b) will be overthrown by communist revolutions. (c) can achieve
equity through generous welfare programs. (d) evolves out of feudalism and is ultimately
replaced by communism.

69.

According to Marx, capitalists can only prosper when: (a) technological advances exceed
rates of population growth. (b) job satisfaction among workers creates greater efficiency in
production. (c) there is little government intervention. The market will be efficient by itself,
maximizing profit for the capitalists. (d) capitalists exploit their workers.

70.

The Marxist term for differences between wages and labor's average marginal productivity is:
(a) wage deficit. (b) surplus value. (c) exploitation quotient. (d) monopoly profit. (e)
contingency fee.

71.

Interest, rent and profit are collectively known by Marxists as: (a) surplus values. (b) dialectics.
(c) finance capital. (d) materialistic bloat. (e) the rate of exploitation.

72.

According to Karl Marx, surplus values include all income payments except: (a) interest. (b)
rent. (c) profit. (d) wages.

73.

The Marxist concept of surplus value is the difference between: (a) disequilibrium and
equilibrium under capitalism. (b) the value of labor inputs and the subsistence wage. (c) socially
necessary labor and gross labor input. (d) embodied labor and congealed labor.

74.

In Marxist jargon, interest, rent and profit are collectively known as: (a) surplus values. (b)
exploitation indicators. (c) concentration indicators. (d) dialectical materials. (e) economic
dialectics.

75.

According to dialectical materialism, the antithesis (internal contradiction) to the capitalism


thesis that emerges as capitalism matures is: (a) the exploited proletariat. (b) peaceful
cooperation. (c) wage fund theory. (d) cooperative agriculture. (e) population control.

76.

Marxists refer to differences between wages and labor's average productivity as: (a) exploitation
deficits. (b) surplus values. (c) monopoly quotients. (d) budget surpluses.

77.

In Marxist jargon, interest, rent, and profit are collectively known as: (a) surplus values. (b)
exploitation indicators. (c) dialectical materials. (d) economic dialectics.

78.

Replacing private property rights to non-human resources with social ownership is central to:
(a) capitalism. (b) libertarianism. (c) anarchism. (d) syndicalism. (e) Marxist socialism.

79.

The idea that government is always controlled by an autocratic and exploitative elite group of
capitalists is central to: (a) utopianism. (b) Hinduism. (c) syndicalism. (d) Marxism.

80.

Marx saw the government in a capitalistic system as: (a) acting to prevent monopoly and reduce
class conflict. (b) conducting welfare programs to increase worker income. (c) allied with the
bourgeoisie in exploiting the proletariat. (d) allied with the proletariat to overthrow the
bourgeoisie.

81.

Orthodox Marxism differs from Utopian, Christian, and Fabian socialism primarily because of
its advocacy of: (a) collective ownership of land and capital. (b) union-management cooperation
about production decisions. (c) a violent revolution to replace capitalism with socialism. (d)
distribution of income by need, not greed.

82.

The boom-bust nature of capitalism is described by the Marxist theory as caused in part by:
(a) capitalists exploitation of workers surplus value and continually investing it in more
capital until smaller companies are forced out of the market. (b) stock prices moving
unpredictably in either direction. (c) weather cycles predict what happens in society because
of their tie to agriculture. (d) manic depressives always rise to highest political positions.

83.

The idea that mature capitalism would go through boom-bust cycles, continually increasing
the extent of inequality in income until a violent revolution erupted was stated by: (a) Karl
Marx. (b) John Stuart Mill. (c) Charles Darwin. (d) Zeno.

84.

Laws of motion that describe how capitalism is doomed were hypothesized by: (a) Adam
Smith. (b) Bentham. (c) Sir John Byng. (d) Karl Marx

85.

According to Karl Marx, the bust in capitalist boom-bust business cycles is a consequence
of: (a) automation and the substitution of capital for labor.(b) shifts in production possibility
frontiers resulting from such events as war, famine, etc. (c) capital accumulation by the rich
and inadequate purchasing power in the hands of workers. (d) ever-increasing unemployment
rates among the proletariat.

86.

According to Karl Marx, the cycle leading to the collapse of capitalism would be: (a) risefall. (b) flow of money stock of wealth. (c) boom-bust. (d) spend-save. (e) flow of surplus
labor stock of capital

87.

NOT among the numerous predictions of Karl Marx was the idea that capitalism will: (a)
collapse during a short and bloody revolution. (b) slowly weaken as economic power
becomes less concentrated over time. (c) experience falling profit rates because consumption
spending will be stifled by increasingly unequal incomes. (d) succumb at the conclusion of
explosive business cycles. (e) foster increasingly aggressive imperialist policies and wars
between capitalist nations.

88.

The thinker most likely to have viewed World War I as imperialistic competition for raw
materials and final goods markets between coalitions of capitalists would have been: (a)
David Ricardo. (b) Karl Marx. (c) Adam Smith. (d) John Maynard Keynes. (e) Vilfredo
Pareto.
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89.

Karl Marx, most famously known as the father of communism, did not advocate: (a)
abolition of private ownership of land and industrial capital. (b) reliance on centralized
economic planning during a brief dictatorship of the proletariat. (c) class distinctions based
on merit alone. (d) a revolution to overthrow capitalism. (e) gradual withering away of
government during the transition to communism.

90.

According to Karl Marx, (a) business cycles enable larger capitalist enterprises to devour the
smaller ones. (b) capital investment eventually leads to increased labor demands. (c) the
reserve army facilitates increases in wage rates. (d) the struggle for existence would lead to
equal wages.

91.

Karl Marx believed that increases in production and productive capacity would lead to
general overproduction, thus. (a) gradually reducing the extent of inequality in the
distribution of income. (b) driving prices down so that only the largest and most efficient
producers would survive. (c) increasing both demands and supplies by similar proportions.
(d) causing small-scale industries to flourish. (d) reducing the problem of unemployment.

92.

A Marxist prediction that may have proven at least partially accurate is: (a) the decline in the
average rate of profit. (b) cyclically increasing rates of unemployment and explosive business
cycles. (c) increased concentration of wealth and power in large corporations. (d) communist
revolutions in industrialized societies.

93.

Karl Marx predicted that, over time: (a) capital would become increasingly concentrated. (b)
over-consumption would cause declining rates of profits. (c) revolutions would occur first in
the less-developed countries. (d) socialist and capitalist economies would peacefully
converge.

94.

The idea that capitalism is dynamically unstable because the quest for profit stimulates
economic concentration and the immiseration of workers is central to: (a) classical
macroeconomics. (b) Keynesian theory. (c) monetary velocity cycles. (d) Marxist theory. (e)
Austrian theory of the business cycle.

95.

Orthodox Marxists believe that capitalism: (a) operates efficiently but inequitably. (b) is
dynamically unstable. (c) will peacefully evolve into socialism. (d) can be saved from complete
collapse by active fiscal and monetary policy.

96.

The final stage of capitalism before the revolution, according to 20th century Marxists, would
be: (a) dialectical materialism. (b) the proletarian revolution. (c) petit bourgeoisie. (d)
monopolistic finance capital. (e) the final coup.

97.

According to Marxists, monopoly finance capitalism: (a) will back the workers revolution. (b)
will be the downfall of socialism. (c) is the last stage of capitalism. (d) is embodied in each and
every worker.

98.

According to Marx, capitalisms grand finale and demise entails: (a) exploitation of labor. (b)
social revolution. (c) centralization of capital. (d) concentration of wealth

99.

According to Karl Marx, the stage that immediately follows capitalism is: (a) the "withering
away of the state." (b) pure communism. (c) revolution and then a "dictatorship of the
proletariat." (d) a market system. (e) a non-exploitative Utopia.
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100.
Karl Marx believed that the proletariat [working class] would spontaneously generate
mass movements that would overthrow mature capitalism. The idea that a successful
communist revolution would require leadership by an elite that would, in part, originate with
bourgeois intellectuals is known as: (a) Stalinism. (b) Maoism. (c) Marxist-Leninist theory.
(d) internationalism. (e) syndicalism.
101. The groups most likely to favor government economic planning would be: (a) bureaucrats and,
at least for the short run, orthodox Marxists. (b) anarchists and syndicalists. (c) libertarians and
capitalists. (d) Buddhists and utopian socialists.
102. Marxist theory predicts that when pure communism evolves from the dictatorship of the
proletariat, there will be a "withering away" of: (a) random selection. (b) government. (c)
tradition. (d) capitalism. (e) basic human needs.
103. In Marxist predictions, the final stage or synthesis of the worker revolution would be: (a)
socialism. (b) monopolistic finance capital. (c) petit bourgeoisie. (d) communism.
104. Karl Marx believed that: (a) the underlying economic structure of society has a profound effect
upon the surrounding political and legal superstructure. (b) capitalism is far more creative and
productive than was feudalism. (c) ownership of the means of production is the primary basis
for economic power in society. (d) capitalism cannot survive and will be replaced by socialism.
(e) All of the above are true.
105. Central predictions of Marxist theory do NOT include the idea that, in a capitalist system: (a)
wealth and power become increasingly concentrated across time. (b) business cycles are
dynamically stable. (c) all incomes except for wage payments are surplus values that arise
from the exploitation of labor, and tend to increase relative to wages as capitalism matures.
(d) the proletariat will eventually overthrow capitalists and their bourgeoisie lackeys in a
short bloody revolution. (e) feudal economies are less likely to experience communist
revolutions than are mature capitalist economies.
106. Marx felt that: (a) workers were generally paid the value of their labor. (b) an antithesis emerges
from interactions between a thesis and its dialectical synthesis. (c) underconsumption would
drive down capitalist profit rates in the long run.. (d) the industrial reserve army of the
unemployed would unite to form unions.
107. Marx's major predictions about capitalism would include: (a) instability in the business cycle
and cyclically increasing excess capacity. (b) exploitation of the worker by growing monopolies.
(c) deepening class struggle of proletariat and bourgeoisie. (d) All of the above.
108. Most of Marx's predictions have proven erroneous, but his forecast was predictive (but weakly
so) in suggesting that: (a) economic power would become more concentrated in the hands of
giant firms. (b) profit rates would fall over time. (c) unemployment would increase over time.
(d) government would learn to dampen the business cycle. (e) the incomes of the proletariat
would remain at subsistence levels.
109. Economic statistics from 1890 to the present provide some support for Marx's predictions of
increases in: (a) labor's real income. (b) industrial concentration in giant firms. (c) government
outlays for welfare programs. (d) class warfare.

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110. In Marx's analysis of economic growth in the capitalist economy: (a) capitalist competition will
evolve into huge monopolies. (b) economic growth will stagnate because of rapid growth of
profit. (c) falling profit rates will lead to pure competition. (d) capitalists will peacefully
surrender their wealth and power.
111. Class conflict, or social conflict in general, as predicted by Marx: (a) does not exist in any
developed country. (b) is more severe today than Marx predicted. (c) has never led to the
overthrow of capitalism in developed countries. (d) explains today's "merger mania".
112. According to Karl Marx: (a) socialism would be brought about by revolution in the advanced
countries. (b) the rural poor would rise up against the capitalists. (c) capitalist governments will
peacefully evolve into communism. (d) workers are exploited by the proletariat.
113. Karl Marx predicted that before the success of a socialist revolution, a final stage of
capitalism, monopolistic finance capital, would be somewhat uniquely characterized by: (a)
growing numbers of petite bourgeois capitalists successfully protecting their privileges. (b)
imperialistic wars raging between mature capitalist countries. (c) increasing rates of
employment. (d) profit growing dramatically as technology advances.
114. On his deathbed Karl Marx allegedly declared, I am not a Marxist, presumably because
many of his followers: (a) had renounced their faith in dialectical materialism. (b) were
compromising on the ultimate size of government and relative need as a criterion for an
equitable distribution of income. (c) had learned that his friend Friedrich Engels owned a
factory. (d) ceased believing in cooperative production. (e) had enrolled in MBA programs at
Ivy League schools.
115. The fact that most Marxist regimes have seized power in primitive economies is: (a) a result of
synthesis being confronted by synergy. (b) contrary to the predictions of Marx and Engels. (c) a
consequence of relying on Hegelian dialectics. (d) evidence that strongly supports Marxist
theory.
116. Marxist revolutions in Russia, China, and Cuba all represent refutations of Marxian predictions
because: (a) their revolutions were not especially bloody. (b) the new governments have not
pursued imperialist policies. (c) they all occurred in relatively feudal agricultural economies. (d)
economic growth was slower after the revolution than before.
117. Not among the predictions of Karl Marx about capitalistic economies was: (a) growing
immiseration and unemployment among the working class. (b) ever greater concentrations of
capital. (c) declining rates of profit. (d) explosive business cycles. (e) communist revolutions in
primitive economies.
118. The overthrow of government by communist revolutions in primitive economies is: (a)
inconsistent with most of Marx's predictions. (b) a result of excessively rapid capital
accumulation. (c) consistently translated into rapid economic growth. (d) the beginning of
representative democracy.
119. In Paul Baran and Paul Sweezeys Monopoly Capital, the attention of Marxist theory shifted
from: (a) job conditions of the working class to the global activities of privately owned
industrial giants. (b) Freudian-style job alienation to worker alienation based on the works of
Max Weber and Emil Durkheim. (c) critiques of neoclassical theory to critiques of Keynesian
theory. (d) the labor theory of value to a more subjectively based theory of value.
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120. Nikolai Bukharin was a: (a) leading Marxist theoretician in the early years of the USSRs
Communist Party. (b) supporter of the quantity theory of money. (c) prominent member of
the Austrian school of thought. (d) an advocate of laissez faire economics. (e) mentor of the
young John Maynard Keynes at Cambridge.
121. Not among major problems for Soviet economic planning after Stalins death would be that:
(a) central planning emphasized quantity of output and ignored quality. (b) inadequate
provision was made for the cost of capital, leading to overly capital-intensive methods of
production. (c) plant managers commonly produced beyond their targets (d) few incentives
facilitated technological advances.
122. The Soviet leader under whom the USSR implemented central planning was: (a) Nikolai
Bukharin. (b) Lon Trotsky. (c) Alexander Stolypin. (d) Joseph Stalin. (e) V.I. Lenin.
123. Deficiencies in the former Soviet Unions planned economy included all of the following
except: (a) planning emphasized quantity of output while ignoring quality of output. (b)
inadequate provision was made for the cost of capital, leading to overly capital-intensive
methods of production. (c) the profit incentive for entrepreneurs was too high, such that
money spent toward research and development was often much greater than toward
production of basic items such as consumer durables. (d) there was little incentive to apply
new technologies, contributing significantly to the slowdown in economic growth. (e) all of
the above.

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