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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. How important is it that the merchant whose capital exports the surplus produce of any society be a native or a foreigner?

2. As capital increases in any country, what happens to the profits which can be made by employing them ?

3. What determines the ordinary market price of land?

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

5. Where do a merchant's or retailer's profits come from?

Short Essay Questions

1. What are the four general maxims regarding taxes?

2. Define the original two kinds of militia.

3. What are the two ways a borrower can use borrowed stock?

4. Why does the colony of a civilized nation which takes possession of thinly inhabited country make rapid advances in that country?

5. What is a drawback?

6. How does the capital of the wholesale merchant support the productive labor of society?

7. How is the interest rate for borrowed money determined?

8. According to the author, why do men prefer slave labor rather than the services of freemen?

9. What are bounties?

10. How does a country fix the rate of interest on borrowed money so as to discourage usury?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

There are two different views concerning whether or not a nation in wealthy. One view says that money is the measure of wealth, while the other says movable goods are the measure. Compare and contrast these two points of view.

Essay Topic 2

Explain with examples how restraining, high duties, or absolute prohibitions on the importation of foreign goods that can be produced at home secure a domestic monopoly.

Essay Topic 3

Explain with examples what happens to commerce in a society when gold and silver are devalued.

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