|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. How important is it that the merchant whose capital exports the surplus produce of any society be a native or a foreigner?
2. What does the part of the annual production of the land and labor of any country which replaces a capital do?
3. What does an artificer who lives where there is either no uncultivated land, or none that can be had upon easy terms, do when he has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
4. What is true of the capital employed in agriculture and in the retail trade of any society?
5. Who concluded the treaty of commerce between England and Portugal in 1703?
Short Essay Questions
1. What are the four general maxims regarding taxes?
2. What is the difference between the two kinds of labor?
3. What is the principal cause for the rapid progress of the American colonies towards wealth?
4. How has the natural order of growth been inverted in some of the the modern states of Europe?
5. What are the two ways to impose land tax?
6. What were the consequences of the German and Scythian nations overrunning the western provinces of the Roman empire?
7. Why does want of parsimony in time of peace necessitate the contracting of debt in time of war?
8. What happens when a country forbids collecting interest on borrowed money?
9. How is the military an example of unproductive labor?
10. According to the author, why do men prefer slave labor rather than the services of freemen?
Write an essay for ONE of the following topics:
Essay Topic 1
"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.
Essay Topic 2
Define and give examples for the two different meanings of the word 'value' as applied to use and exchange.
Essay Topic 3
"When a nation binds itself by treaty either to permit the entry of certain goods from one foreign country which it prohibits from all others, or to exempt the goods of one country from duties to which it subjects those of all others, the country, or at least the merchants and manufacturers of the country, whose commerce is so favored, must necessarily derive great advantage from the treaty." Explain with examples, how treaties, though they may be advantageous to the merchants and manufacturers of the favored, are necessarily disadvantageous to those of the favoring country.
This section contains 1,141 words
(approx. 4 pages at 300 words per page)