|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Where do a merchant's or retailer's profits come from?
2. What goods are ordinarily prohibited from being imported to Britain?
3. What was one consequence when the German and Scythian nations overran the western provinces of the Roman empire?
4. How important is it that the merchant whose capital exports the surplus produce of any society be a native or a foreigner?
5. What must defray the expense of defense and government?
Short Essay Questions
1. What is a drawback?
2. What is necessary for commerce and manufacturing to flourish in a nation?
3. What is the first duty of the sovereign and how is it performed?
4. The whole annual produce of the land and labor of every country, which comes either from the ground, or from the hands of the productive laborers, is divided into what two parts?
5. What are the four general maxims regarding taxes?
6. What are the three ways capital is used in the natural growth of a new society?
7. How is unproductive labor maintained by revenue?
8. Why does want of parsimony in time of peace necessitate the contracting of debt in time of war?
9. How has the natural order of growth been inverted in some of the the modern states of Europe?
10. Why would the proprietor of a colonist's land not dispute over wages, and indeed pay high wages?
Write an essay for ONE of the following topics:
Essay Topic 1
"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 2
Explain with examples, why bounties ought to be given only to those branches of trade which cannot be carried on without them.
Essay Topic 3
Define and give examples for the two different meanings of the word 'value' as applied to use and exchange.
This section contains 967 words
(approx. 4 pages at 300 words per page)