|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. What does a North American colonial artificer do when he has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
(a) He buys land for improvement.
(b) He reinvests his stock into his business.
(c) He invests his stock in more workmen.
(d) He seeks to sell in distance towns.
2. What is the inherent nature of stock and credit?
(a) They are stable and renewable.
(b) They are stable and permanent.
(c) They are unstable and perishable.
(d) They are unstable but renewable.
3. Which society sends the least number of men to war in proportion to the whole population?
(a) Shepherd society.
(b) Agricultural society.
(c) Hunter society.
(d) Civilized society.
4. What regulates the quantity of materials and provisions that a town buys?
(a) The quantity of manufacture they get from those in the country.
(b) The quantity of work the country has to sell.
(c) The quantity of work they sell to those in the country.
(d) The quantity of raw materials they get from those in the country.
5. What determines the ordinary market price of land?
(a) The ordinary market rate of product consumption.
(b) The ordinary market rate of gold.
(c) The ordinary market rate of interest.
(d) The ordinary market rate of corn.
Short Answer Questions
1. What does the lender consider stock lent at an interest?
2. Where do a merchant's or retailer's profits come from?
3. What gave Great Britain the monopoly of supplying the colonies with all the commodities of growth and manufacturing?
4. How are almost all loans made?
5. What is true of the capital employed in agriculture and in the retail trade of any society?
Short Essay Questions
1. What happens when a country forbids collecting interest on borrowed money?
2. Why do most men choose to employ their capitals in the improvement and cultivation of land?
3. How does a country fix the rate of interest on borrowed money so as to discourage usury?
4. What are the four general maxims regarding taxes?
5. What is necessary for commerce and manufacturing to flourish in a nation?
6. How does the capital of the wholesale merchant support the productive labor of society?
7. What is a drawback?
8. In the North American colonies, what does an artificer do who has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
9. How does the capital of a retailer and manufacturer differ?
10. What are the two ways a borrower can use borrowed stock?
This section contains 1,151 words
(approx. 4 pages at 300 words per page)