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This quiz consists of 5 multiple choice and 5 short answer questions through Book 3, Chapter 1.

Multiple Choice Questions

1. What does a North American colonial artificer do when he has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
(a) He seeks to sell in distance towns.
(b) He invests his stock in more workmen.
(c) He buys land for improvement.
(d) He reinvests his stock into his business.

2. In the rude ages of society, what was the common instrument of commerce?
(a) Textiles.
(b) Food stuffs.
(c) Cattle.
(d) Labor.

3. What was the common instrument of commerce among the ancient Romans?
(a) Iron.
(b) Silver.
(c) Gold.
(d) Copper.

4. What kind of revenue constitutes the whole annual produce of the a country's land and labor?
(a) Net revenue.
(b) Production revenue.
(c) Gross revenue.
(d) Consumption revenue.

5. What is the common instrument of commerce and exchanges in some parts of the coast of India?
(a) Sugar.
(b) Salt.
(c) Shells.
(d) Tobacco.

Short Answer Questions

1. What is another name for paper money?

2. What regulates the quantity of materials and provisions that a town buys?

3. What is it called when gold purchases goods in one foreign country in order to supply the consumption of another?

4. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?

5. What is a consequence of replacing gold money with paper money?

(see the answer key)

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