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This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. 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 enjoy the highest degree of industry and improvement.
(c) In those countries which have yet to pursue industry and improvement.
(d) In those countries which are have completed their industry and improvement.
2. What word expressed the weight or quantity of metal contained in the first coins?
3. What is it called when gold purchases goods in one foreign country in order to supply the consumption of another?
(a) Domestic revenue trade.
(b) Carrying trade.
(c) Foreign purchase trade.
(d) Consumption trade.
4. What kind of revenue constitutes the whole annual produce of the a country's land and labor?
(a) Gross revenue.
(b) Net revenue.
(c) Consumption revenue.
(d) Production revenue.
5. What kind of revenue is made from the interest on money?
(a) Renewable revenue.
(b) Laborless revenue.
(c) Derivative revenue.
(d) Taxable revenue.
6. Why are new machines more likely to be invented under division of labor?
(a) Division of labor promotes speculation and new ideas to be tried.
(b) New machines are required when labor has been divided.
(c) Men have more time to experiment with various options and potential improvements.
(d) Men are more likely to discover more efficient methods of production when their entire focus is directed towards a single step of the process.
7. What kind of demand brings a commodity to market?
(a) A proportionate demand.
(b) A natural demand.
(c) An absolute demand.
(d) An effectual demand.
8. What does the text say about the difference of the natural talents in men?
(a) That all men have unique talents unto themselves.
(b) That they are so different as so never to be changeable.
(c) That they are not really that different.
(d) That talent is natural and cannot be cultivated or improved.
9. How are the dispositions that form the difference of talents of various professions considered?
(a) They are considered obstacles to overcome.
(b) They are considered inconsequential.
(c) They are considered useful.
(d) They are considered a hindrance to progress.
10. What kind of revenue remains free to a country after deducting the expense of maintaining their fixed circulating capital?
(a) Consumption revenue.
(b) Production revenue.
(c) Net revenue.
(d) Gross revenue.
11. Which occupation requires a great town?
12. How many times more goods on a broad-wheeled wagon can be carried from London to Edinburgh by water-carriage in the same amount of time?
13. What is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?
(a) Shallow water.
(b) Many harbors.
(c) No islands.
(d) No tides.
14. What was the original price, the first purchase cost, for all things?
(a) Exchange of goods.
15. What is the common instrument of commerce and exchanges in Abyssinia?
Short Answer Questions
1. What kind of person depends chiefly on the benevolence of this fellow citizens?
2. In the ancient world, what was considered a most wonderful and dangerous exploit of navigation?
3. What is the common instrument of commerce and exchanges in some parts of the coast of India?
4. What is capital?
5. What happens in every country that employs an increase in stock?
This section contains 611 words
(approx. 3 pages at 300 words per page)