ECON 304 EXAM SCRIPT 2025/2026 QUESTIONS WITH
ANSWERS GRADED A+
✔✔Which of the following was NOT a contributing factor to early class organization?
Select one:
a. The growth of wage labor.
b. The rise of early unions (i.e. Journeymen societies).
c. The exploitation of workers by employers.
d. A need to negotiate wage rates.
e. All of these contributed to the rise of class organizations. - ✔✔e
✔✔What was the Enclosure Movement?
Select one:
a. Lords bought up farms from the working class, disenfranchising them.
b. Laborers began fencing in livestock to feed themselves.
c. Early factories were formatted like enclosures to maximize productivity.
d. The earliest machines were known as "wool enclosures."
e. Employers enclosed their workers into dark apartment complexes. - ✔✔a
✔✔True or False: Refugees entering Britain contributed nothing to the economy.
Select one:
a. True
b. False - ✔✔b
✔✔Which of the following was NOT a way employers increased productivity?
Select one:
a. Concentrating work in factories.
b. Paying good wages.
c. Introducing machinery.
d. Organizing labor in new ways.
e. All of these were ways of increasing productivity. - ✔✔b
✔✔How did religion contribute to the rise of capitalism?
Select one:
a. Atheist anti-religiosity.
b. Protestantism laid the foundations for the spirit of capitalism.
c. There is no consensus on religious influence.
d. Catholic emphasis on selfishness.
e. Refugee entrepreneurship. - ✔✔c
,✔✔Which of the following was NOT one of the arguments Fulcher details for the origins
of capitalism?
Select one:
a. Urbanization
b. Feudalism
c. Migration from the Asian Steppes
d. Multi-State Systems
e. All of these are arguments - ✔✔c
✔✔___________ led to a huge decrease in population, causing a shortage in the labor
market.
Select one:
a. The Black Death
b. The Thirty Years War
c. The Norman Invasion of 1066
d. Collapse of the Roman Empire
e. The Crusade of the 12th Century - ✔✔a
✔✔True or False: The Norman Invasion increased bureaucratic organization in Britain.
Select one:
a. True
b. False - ✔✔a
✔✔The unique features of ____________ society allowed capitalism to flourish.
Select one:
a. European
b. Chinese
c. Byzantine
d. Roman
e. Japanese - ✔✔a
✔✔True or False: Fulcher's list of transformations is absolutely correct and cannot be
questioned.
Select one:
a. True
b. False - ✔✔b
✔✔All of the following were aspects of Anarchic Capitalism EXCEPT?
Select one:
, a. The rise of liberal beliefs in the rights of the individual
b. Military action against strikes
c. Reduced uncertainty in the market
d. Deregulation of companies
e. Terrible labor organization - ✔✔c
✔✔Which of the following was the driving force behind the growth of Managed
Capitalism?
Select one:
a. Class organization and Unions in the mid-19th century
b. Deregulation of the market and classic liberalism
c. The German Revolution of 1919
d. International competition and supply shocks in the 1970s
e. The growth of large corporations - ✔✔a
✔✔________________ led to an expansion of state control over the economy.
Select one:
a. The First World War
b. Thatcherism
c. The Boer War
d. German military expansion
e. The Cold War - ✔✔a
✔✔Which of the following was a reason for the collapse of managed capitalism?
Select one:
a. The rise of neo-classical economics out of the Chicago School
b. No cooperation between the government, businesses, and unions
c. A weak economy after the end of World War II
d. Lack of trade with communist countries in the Eastern Bloc
e. Conservative backlash against socialist policies - ✔✔b
✔✔All of the following are aspects of "Thatcherism" EXCEPT.
Select one:
a. Newfound freedom for firms
b. Increased privatization of several key industries
c. Increases in taxes to fight public debt
d. Keynesian macroeconomic policy was out
e. Cuts in welfare expenditure by the state - ✔✔c
✔✔The economy of Capitopia has a very distinct capitalist system (I know, the name is
lame). In their economy, the state lets the employers choose how they treat the labor
ANSWERS GRADED A+
✔✔Which of the following was NOT a contributing factor to early class organization?
Select one:
a. The growth of wage labor.
b. The rise of early unions (i.e. Journeymen societies).
c. The exploitation of workers by employers.
d. A need to negotiate wage rates.
e. All of these contributed to the rise of class organizations. - ✔✔e
✔✔What was the Enclosure Movement?
Select one:
a. Lords bought up farms from the working class, disenfranchising them.
b. Laborers began fencing in livestock to feed themselves.
c. Early factories were formatted like enclosures to maximize productivity.
d. The earliest machines were known as "wool enclosures."
e. Employers enclosed their workers into dark apartment complexes. - ✔✔a
✔✔True or False: Refugees entering Britain contributed nothing to the economy.
Select one:
a. True
b. False - ✔✔b
✔✔Which of the following was NOT a way employers increased productivity?
Select one:
a. Concentrating work in factories.
b. Paying good wages.
c. Introducing machinery.
d. Organizing labor in new ways.
e. All of these were ways of increasing productivity. - ✔✔b
✔✔How did religion contribute to the rise of capitalism?
Select one:
a. Atheist anti-religiosity.
b. Protestantism laid the foundations for the spirit of capitalism.
c. There is no consensus on religious influence.
d. Catholic emphasis on selfishness.
e. Refugee entrepreneurship. - ✔✔c
,✔✔Which of the following was NOT one of the arguments Fulcher details for the origins
of capitalism?
Select one:
a. Urbanization
b. Feudalism
c. Migration from the Asian Steppes
d. Multi-State Systems
e. All of these are arguments - ✔✔c
✔✔___________ led to a huge decrease in population, causing a shortage in the labor
market.
Select one:
a. The Black Death
b. The Thirty Years War
c. The Norman Invasion of 1066
d. Collapse of the Roman Empire
e. The Crusade of the 12th Century - ✔✔a
✔✔True or False: The Norman Invasion increased bureaucratic organization in Britain.
Select one:
a. True
b. False - ✔✔a
✔✔The unique features of ____________ society allowed capitalism to flourish.
Select one:
a. European
b. Chinese
c. Byzantine
d. Roman
e. Japanese - ✔✔a
✔✔True or False: Fulcher's list of transformations is absolutely correct and cannot be
questioned.
Select one:
a. True
b. False - ✔✔b
✔✔All of the following were aspects of Anarchic Capitalism EXCEPT?
Select one:
, a. The rise of liberal beliefs in the rights of the individual
b. Military action against strikes
c. Reduced uncertainty in the market
d. Deregulation of companies
e. Terrible labor organization - ✔✔c
✔✔Which of the following was the driving force behind the growth of Managed
Capitalism?
Select one:
a. Class organization and Unions in the mid-19th century
b. Deregulation of the market and classic liberalism
c. The German Revolution of 1919
d. International competition and supply shocks in the 1970s
e. The growth of large corporations - ✔✔a
✔✔________________ led to an expansion of state control over the economy.
Select one:
a. The First World War
b. Thatcherism
c. The Boer War
d. German military expansion
e. The Cold War - ✔✔a
✔✔Which of the following was a reason for the collapse of managed capitalism?
Select one:
a. The rise of neo-classical economics out of the Chicago School
b. No cooperation between the government, businesses, and unions
c. A weak economy after the end of World War II
d. Lack of trade with communist countries in the Eastern Bloc
e. Conservative backlash against socialist policies - ✔✔b
✔✔All of the following are aspects of "Thatcherism" EXCEPT.
Select one:
a. Newfound freedom for firms
b. Increased privatization of several key industries
c. Increases in taxes to fight public debt
d. Keynesian macroeconomic policy was out
e. Cuts in welfare expenditure by the state - ✔✔c
✔✔The economy of Capitopia has a very distinct capitalist system (I know, the name is
lame). In their economy, the state lets the employers choose how they treat the labor
