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

Multiple Choice Questions

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

2. What regulates the quantity of materials and provisions that a town buys?
(a) The quantity of manufacture they get from those in the country.
(b) The quantity of work the country has to sell.
(c) The quantity of raw materials they get from those in the country.
(d) The quantity of work they sell to those in the country.

3. What does the lender consider stock lent at an interest?
(a) A revenue.
(b) A capital.
(c) An industry.
(d) A profit.

4. What kind of rent is paid by a farmer?
(a) Consumption rent.
(b) Net rent.
(c) Gross rent.
(d) Production rent.

5. Where do a farmer's or manufacturer's profits come from?
(a) From their stock.
(b) From what they produce.
(c) From their reserve.
(d) From their surplus.

Short Answer Questions

1. What is the principal cause of the rapid progress of the American colonies?

2. What must defray the expense of defense and government?

3. What year was the Bank of England allowed to enlarge its capital stock?

4. What was the common rate of interest on borrowing through the greater part of Europe before the discovery of the West Indies?

5. What is a borrower who uses his borrowed stock for immediate consumption?

(see the answer key)

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