An Inquiry Into the Nature and Causes of the Wealth of Nations Test | Mid-Book Test - Easy

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

Multiple Choice Questions

1. What is the common instrument of commerce and exchanges in Abyssinia?
(a) Salt.
(b) Sugar.
(c) Shells.
(d) Tobacco.

2. What is a common characteristic for a workman under division of labor?
(a) Every workman has increased purchasing power.
(b) Every workman is equal to every other workman.
(c) Every workman has the means to improve himself.
(d) Every workman produces more than he needs.

3. What is the state of the greater part of the laboring poor in all countries?
(a) Their revenue is not enough for sustenance.
(b) Their revenue is derived from their labor only.
(c) Their labor is sporadic and not continual.
(d) Their labor is not enough for sustenance.

4. When was the Bank of England incorporated?
(a) The 27th of July, 1694.
(b) The 27th of July, 1695.
(c) The 27th of July, 1696.
(d) The 27th of July, 1693.

5. Where are the separation of different trades and employments from one another generally found?
(a) In those countries which have the least degree of industry and improvement.
(b) In those countries which are have completed their industry and improvement.
(c) In those countries which have yet to pursue industry and improvement.
(d) In those countries which enjoy the highest degree of industry and improvement.

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

7. What three ways do we obtain from one another the greater part of those mutual good offices which we stand in need of?
(a) By treaty, by barter, or by purchase.
(b) By labor, by barter , or by charity.
(c) By labor, by charity, or by ingenuity.
(d) By ingenuity, by treaty, or by purchase.

8. What causes the difference between a philosopher and a street porter?
(a) Opportunity, talent, and birth.
(b) Habit, custom, and education.
(c) Birth, income, and upbringing.
(d) Natural talent and propensity.

9. What was the original form of the metals used for commerce?
(a) Nuggets.
(b) Coins.
(c) Bars.
(d) Lumps.

10. According to Homer, how much did the armor of Diomede cost?
(a) Ten oxen.
(b) Eleven oxen.
(c) Nine oxen.
(d) Eight oxen.

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

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

13. What is another name for paper money?
(a) Debtors' notes.
(b) Circulating notes.
(c) Promissory notes.
(d) Commerce notes.

14. What are the three original sources of all revenue?
(a) Wages, profit, and rent.
(b) Profit, taxes, and commerce.
(c) Trade, taxes, and wages.
(d) Commerce, taxes, and trade.

15. What is a consequence of replacing gold money with paper money?
(a) It promotes a new industry.
(b) It costs less both to erect and to maintain.
(c) It allows for more buying power.
(d) It allows for increased wages.

Short Answer Questions

1. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?

2. What is the nominal price of a commodity?

3. What is the real measure of the exchangeable value of all commodities?

4. Which country's inland navigation caused its early improvement?

5. Which commodity is more susceptible to price variations?

(see the answer keys)

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