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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 4 & Book 5, Chapter 1.

Multiple Choice Questions

1. What does an artificer who lives where there is either no uncultivated land, or none that can be had upon easy terms, 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 reinvests his stock into his business.
(b) He invests his stock in more workmen
(c) He buys land for improvement.
(d) He seeks to sell in distance towns.

2. What can be said for division of labor for all kinds of manufacturing?
(a) The quality of products manufactured are improved greatly.
(b) Division of labor does not affect the quantity of products manufactured.
(c) Machines replace many workmen who are moved to other jobs.
(d) Many individuals and processes come together to complete a product.

3. How does annual consumption compare to annual spending?
(a) More is spent.
(b) They are nearly the same.
(c) There is no correlation.
(d) More is consumed.

4. In modern armies, what is of more importance in determining the fate of battles?
(a) Dexerity and skill of soldiers.
(b) Prompt obedience to commands.
(c) Practice and drills.
(d) The expertise of the officers.

5. What kind of revenue remains free to a country after deducting the expense of maintaining their fixed circulating capital?
(a) Consumption revenue.
(b) Production revenue.
(c) Net revenue.
(d) Gross revenue.

Short Answer Questions

1. What kind of revenue is made from the interest on money?

2. What is capital?

3. What is another name for paper money?

4. What are the natural consequences of the law of primogeniture?

5. What does the division of labor do for a manufacturer?

(see the answer key)

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