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This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What was the first article in the treaty of commerce between England and Portugal?
(a) British corn will be exported to Portugal.
(b) British woolen cloth will be exported to Portugal.
(c) British wheat will be exported to Portugal.
(d) British wine will be exported to Portugal.
2. In Great Britain, what is inserted into the annual land and malt taxes?
(a) A borrowing clause.
(b) A perpetual funding clause.
(c) An annuity equivalent.
(d) A liberty ot redeem clause.
3. What does a man expect when he employs his stock as capital?
4. When does the quantity of stock to be lent at interest grow?
(a) When consumption increases.
(b) When capital increases.
(c) When labor increases.
(d) When production increases.
5. At the time the book was written, what increased the price of gold exported from Spain and Portugal?
(b) Gold from Peru.
(c) Depleted mines.
(d) More mines found.
6. What is the second part of capital use in every growing society?
(a) Foreign commerce.
(b) Inland commerce.
7. What does the interest rate on borrowed money need to be to prevent usury?
(a) The rate needs to be somewhat above the lowest market price.
(b) The rate needs to be somewhat below the lowest market price.
(c) The rate needs to be half the lowest market price.
(d) The rate needs to be equal to the lowest market price.
8. What to British manufacturers import from the coasts of the Baltic?
(a) Flax and hemp.
(b) Cotton and linen.
(c) Molasses and sugar cane.
(d) Sugar and rum.
9. Who concluded the treaty of commerce between England and Portugal in 1703?
(a) Mr. Metuel.
(b) Mr. Menchan.
(c) Mr. Melkson.
(d) Mr. Methuen.
10. How important is it that the merchant whose capital exports the surplus produce of any society be a native or a foreigner?
(a) It is of little importance.
(b) It is of no importance at all.
(c) It is of utmost importance.
(d) It's importance depends on a number of factors.
11. What is the principal cause of the rapid progress of the American colonies?
(a) Nearly their entire capitals are employed in settlements.
(b) Nearly their entire capitals are employed in agriculture.
(c) Nearly their entire capitals are employed in land.
(d) Nearly their entire capitals are employed in commerce.
12. What is the inherent nature of stock and credit?
(a) They are stable and renewable.
(b) They are unstable but renewable.
(c) They are stable and permanent.
(d) They are unstable and perishable.
13. How are capitals diminished?
(a) By prodigality.
(b) By industry.
(c) By parsimony.
(d) By revenue.
14. What regulates the quantity of materials and provisions that a town buys?
(a) The quantity of work the country has to sell.
(b) The quantity of manufacture they get from those in the country.
(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.
15. How should revenue from public stock be supplemented?
(a) By taxing land owners.
(b) By selling the stock.
(c) By taxing the people.
(d) By selling commodities.
Short Answer Questions
1. During the sixteenth century, who claimed all of America as its own?
2. What does the part of the annual production of the land and labor of any country which replaces a capital do?
3. What does the lender consider stock lent at an interest?
4. 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?
5. How are capitals increased?
This section contains 632 words
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