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

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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 is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?

2. How many general types of fixed capital are there?

3. What is the ultimate and real standard by which the value of all commodities can, at all times and places, be estimated and compared?

4. What limits the extent of the division of labor?

5. What does the author consider to be a wasteful use of gold?

Short Essay Questions

1. How do fixed capital and circulating money resemble each other?

2. How is the circulating capital of a society different from that of an individual?

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

4. Why do commercial nations use coins of different kinds of metals?

5. Why is the division of labor not considered the effect of human wisdom?

6. Why was the assaying of precious metals originally a problem?

7. What two advantages did the banking companies of Scotland gain by dealing only with men who had frequent and regular operations with them?

8. In all countries, why are precious metals the preferred means of commerce?

9. In every society or neighborhood, how is the ordinary or average rate both of wages and profit regulated?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Explain with examples how restraining, high duties, or absolute prohibitions on the importation of foreign goods that can be produced at home secure a domestic monopoly.

Essay Topic 2

"Though all capitals are destined for the maintenance of productive labor only, yet the quantity of that labor which equal capitals are capable of putting into motion varies extremely according to the diversity of their employment." Explain and give examples of the four different ways that capital can be employed and tell why these four ways are absolutely necessary.

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.

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