View a FREE sample

This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What is the first part of capital use in every growing society?
(a) Foreign commerce.
(b) Inland commerce.
(c) Agriculture.
(d) Manufacturers.

2. 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 seeks to sell in distance towns.
(b) He invests his stock in more workmen
(c) He reinvests his stock into his business.
(d) He buys land for improvement.

3. During the sixteenth century, who claimed all of America as its own?
(a) Holland.
(b) Great Britain.
(c) Spain.
(d) Portugal.

4. What determines the ordinary market price of land?
(a) The ordinary market rate of product consumption.
(b) The ordinary market rate of gold.
(c) The ordinary market rate of corn.
(d) The ordinary market rate of interest.

5. When a government has borrowed a great deal of money, what is the justification for imposing new taxes?
(a) To run a government which has become more expensive.
(b) To pay the interest on the borrowed money.
(c) To pay back the borrowed money.
(d) To refill the emptied treasury.

6. What tends to discourage every industry in a given nation and enable foreign markets to undersell goods even in the home market?
(a) Government directed money prices of commodities.
(b) The rise in the money price of commodities.
(c) The fall in the money price of commodities.
(d) Fixed money prices of commodities.

7. According to the author why, two or three centuries before, were his British ancestors mostly idle concerning industry?
(a) There was no sufficient industry to work in.
(b) There was no sufficient encouragement to earn a wage.
(c) There was no sufficient wage to work in industry.
(d) There was no sufficient encouragement to industry.

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

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

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

11. What are the natural consequences of the law of primogeniture?
(a) Entails.
(b) Bankrupcy.
(c) Female inheritors.
(d) Divided estates.

12. What must defray the expense of defense and government?
(a) Draw backs fees.
(b) Exports bounties.
(c) Profit.
(d) Revenue.

13. What to British manufacturers import from the coasts of the Baltic?
(a) Cotton and linen.
(b) Sugar and rum.
(c) Flax and hemp.
(d) Molasses and sugar cane.

14. What was the mint price of eight Paris ounces of gold according to the edict of January 1726?
(a) Seven hundred and twenty livres, nine sous, and one denier one-eleventh.
(b) Seven hundred and ten livres, nine sous, and one denier one-eleventh.
(c) Seven hundred and thirty livres, nine sous, and one denier one-eleventh.
(d) Seven hundred and forty livres, nine sous, and one denier one-eleventh.

15. During the twelve years of the reign of Queen Anne, what was the highest interest rate which could be taken for borrowed money?
(a) 6%.
(b) 5%.
(c) 3%.
(d) 4%.

Short Answer Questions

1. What was unserviceable for corn merchants, exporters, and importers?

2. Why isn't the wool of southern Scotland manufactured there?

3. What was prohibited from exportation in France until 1764?

4. What kind of wine is not a European commodity?

5. How are almost all loans made?

(see the answer keys)

This section contains 596 words (approx. 2 pages at 300 words per page) View a FREE sample