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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. What are the three original sources of all revenue?
2. What limits the extent of the division of labor?
3. To what price do all commodities gravitate?
4. The ordinary or average rates of wages, profit, and rent may also be called what?
5. What kind of commodity must be sold quickly?
Short Essay Questions
1. How does the multiplication of the productions of all the different arts, in consequence of the division of labor in a well-governed society, extend opulence to the lowest ranks of the people?
2. In all countries, why are precious metals the preferred means of commerce?
3. Why is it difficult to determine the exchange value between two different kinds of labor?
4. What three circumstances increase the quantity of work as a consequence of the division of labor?
5. What would happen at the end of a war, if the enemy confiscated the gold upon which the losing country's paper money was based?
6. In every society or neighborhood, how is an ordinary or average rate of rent regulated?
7. Explain a farmer's fixed and circulating capital.
8. Give an example of one kind of job which requires a great town.
9. Why is the division of labor not considered the effect of human wisdom?
10. Who commonly makes improvements in manufacturing machinery?
Write an essay for ONE of the following topics:
Essay Topic 1
Merchants and manufacturers desire the most extensive foreign sale for their goods but their home country has no jurisdiction in foreign nations. Consequently, they are obliged to petition for certain encouragements to exportation. These encouragements what are called drawbacks. Explain with examples how drawbacks work for both the exporting and importing country. What are the benefits and/or hindrances to both?
Essay Topic 2
With specific examples, compare and contrast the forms of defense among these different societies - 1. a nation of hunters; 2. a nation of shepherds; 3. a nation of husbandmen with no foreign commerce or manufacture.
Essay Topic 3
"The increase and riches of commercial and manufacturing towns contributed to the improvement and cultivation of the countries to which they belonged in three different ways." Explain with examples the three ways mentioned in the quote above.
This section contains 1,066 words
(approx. 4 pages at 300 words per page)