|Name: _________________________||Period: ___________________|
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 people who employ their own capital called?
2. What was the first article in the treaty of commerce between England and Portugal?
3. What is the whole annual produce of the land and labor of every country used for?
4. What is true of both a farm and a retail trade?
5. How does annual consumption compare to annual spending?
Short Essay Questions
1. Why does want of parsimony in time of peace necessitate the contracting of debt in time of war?
2. According to the author, why do men prefer slave labor rather than the services of freemen?
3. Why do most men choose to employ their capitals in the improvement and cultivation of land?
4. What is the first duty of the sovereign and how is it performed?
5. How is the interest rate for borrowed money determined?
6. How is the military an example of unproductive labor?
7. How does a country fix the rate of interest on borrowed money so as to discourage usury?
8. Why does the colony of a civilized nation which takes possession of thinly inhabited country make rapid advances in that country?
9. Why would the proprietor of a colonist's land not dispute over wages, and indeed pay high wages?
10. How does the capital of a retailer and manufacturer differ?
Write an essay for ONE of the following topics:
Essay Topic 1
Explain the general characteristics of the division of labor between small and large manufacturers. How are they the same? How are they different? How is division of labor generally advantageous?
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
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.
This section contains 973 words
(approx. 4 pages at 300 words per page)