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

Multiple Choice Questions

1. Commonly, why does man #1 help man #2?
(a) Because man #1 has a capacity for benevolence.
(b) Because man #1 derives personal benefit from helping man #2.
(c) Because man #1 sees man #2's genuine need for help.
(d) Because man #2 has agreed to pay man #1.

2. What reduced the value of gold and silver in Europe in the 16th century?
(a) The depletion of mines in Europe.
(b) The depletion of mines in America.
(c) The discovery of mines in America.
(d) The discovery of mines in Peru.

3. How many times more goods on a broad-wheeled wagon can be carried from London to Edinburgh by water-carriage in the same amount of time?
(a) 50.
(b) 40.
(c) 45.
(d) 55.

4. Why are new machines more likely to be invented under division of labor?
(a) Men are more likely to discover more efficient methods of production when their entire focus is directed towards a single step of the process.
(b) Men have more time to experiment with various options and potential improvements.
(c) New machines are required when labor has been divided.
(d) Division of labor promotes speculation and new ideas to be tried.

5. What is a common characteristic for a workman under division of labor?
(a) Every workman has increased purchasing power.
(b) Every workman has the means to improve himself.
(c) Every workman is equal to every other workman.
(d) Every workman produces more than he needs.

Short Answer Questions

1. According to Homer, how much did the armor of Diomede cost?

2. How are the dispositions that form the difference of talents of various professions considered?

3. What is the nominal price of a commodity?

4. The laborer is rich or poor, is well or ill rewarded, in proportion to what?

5. How are a philosopher and a street porter the same?

(see the answer key)

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