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

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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?
(a) Greece.
(b) Egypt.
(c) Italy.
(d) Turkey.

2. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?
(a) Consumption rent.
(b) Net rent.
(c) Gross rent.
(d) Production rent.

3. What do princes and sovereign states frequently do with their coinage?
(a) Augment the quantity of pure metal contained in their coins.
(b) Refuse to change the quantity of pure metal contained in their coins.
(c) Substitute the quantity of pure metal contained in their coins.
(d) Diminish the quantity of pure metal contained in their coins.

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

5. What was one problem with the use of rude metals?
(a) Keeping them safe.
(b) Transporting them.
(c) Mining them.
(d) Weighing them.

Short Answer Questions

1. What happens in every country that employs an increase in stock?

2. To what price do all commodities gravitate?

3. What can be said for division of labor for all kinds of manufacturing?

4. Why are the silks of France better and cheaper than those of England?

5. In the rude ages of society, what was the common instrument of commerce?

Short Essay Questions

1. Using an example from the text, explain how the value of the most precious metal used for coinage regulates the value of coins made with a lesser metal.

2. What is the difference between the real price of a commodity and the nominal price of a commodity?

3. Why are circulating and fixed capital different for different occupations?

4. What are the two ways in which a capital may be employed so as to yield a revenue or profit to its employer.

5. In every society or neighborhood, how is an ordinary or average rate of rent regulated?

6. Who commonly makes improvements in manufacturing machinery?

7. How does the market limit the division of labor?

8. Give an example of one kind of job which requires a great town.

9. Who or what is involved in the manufacture and sale of a woolen coat?

10. What are the two possible origins of the propensity to truck, barter, and exchange one thing for another?

(see the answer keys)

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