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

Multiple Choice Questions

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

2. What is the real measure of the exchangeable value of all commodities?
(a) Barter.
(b) Gold.
(c) Exchange of goods.
(d) Labor.

3. What does the division of labor do for individual workmen?
(a) It teaches each man a new skill.
(b) It reduces every man's job to one simple operation.
(c) It gives each man more work to do.
(d) It enables each man to work fewer hours.

4. What word expressed the weight or quantity of metal contained in the first coins?
(a) Fineness.
(b) Denomination.
(c) Stamp.
(d) Purity.

5. What does the proportion between capital and revenue regulate?
(a) The proportion between production and wages.
(b) The proportion between labor and manufacturing.
(c) The proportion between industry and idleness.
(d) The proportion between capital and money.

Short Answer Questions

1. What is another name for paper money?

2. What is a person's revenue equal to?

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

4. What is one characteristics of a fixed capital?

5. What was the common instrument of commerce among the ancient Spartans?

(see the answer key)

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