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This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 3.

Multiple Choice Questions

1. The ordinary or average rates of wages, profit, and rent may also be called what?
(a) The derived rates.
(b) The commodity rates.
(c) The natural rates.
(d) The common rates.

2. What is the intention of the fixed capital?
(a) To increase the productive powers of labour.
(b) To decrease the number of workmen needed.
(c) To decrease the overhead cost of manufacturing.
(d) To increase the speed of manufacturing.

3. What are the two kinds of labor?
(a) Productive and unproductive.
(b) Professional and unskilled.
(c) Wage earning and charitable.
(d) Manual and mental.

4. What is true about the amount of metal coins which circulate in a society?
(a) They have no relation to the revenue of the society.
(b) They can never be equal to the revenue of the society.
(c) They are equal to the revenue of the society.
(d) They fluctuate the revenue of the society.

5. How are capitals diminished?
(a) By revenue.
(b) By prodigality.
(c) By parsimony.
(d) By industry.

Short Answer Questions

1. Which commodity is more susceptible to price variations?

2. What is the whole annual produce of the land and labor of every country used for?

3. What is the common instrument of commerce and exchanges in Abyssinia?

4. What is the common instrument of commerce and exchanges in Virginia?

5. According to the text, what does this saying describe: "Give me that which I want, and you shall have this which you want"?

(see the answer key)

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