|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 is true of the capital employed in agriculture and in the retail trade of any society?
2. What tends to discourage every industry in a given nation and enable foreign markets to undersell goods even in the home market?
3. What was the mint price of eight Paris ounces of gold according to the edict of January 1726?
4. What is the old subsidy rule?
5. What are the natural consequences of the law of primogeniture?
Short Essay Questions
1. 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?
2. What is the significance of where the capital of a manufacturer resides?
3. How is the military an example of unproductive labor?
4. What are the two ways a borrower can use borrowed stock?
5. What are the three ways capital is used in the natural growth of a new society?
6. Why does the colony of a civilized nation which takes possession of thinly inhabited country make rapid advances in that country?
7. How does a country fix the rate of interest on borrowed money so as to discourage usury?
8. What were the consequences of the German and Scythian nations overrunning the western provinces of the Roman empire?
9. In the North American colonies, what does an artificer do who has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
10. What are bounties?
Write an essay for ONE of the following topics:
Essay Topic 1
Explain with examples how the discovery of a passage to the East Indies by the Cape of Good Hope opened an more extensive range to foreign commerce than even that of America.
Essay Topic 2
As explained in the text, compare and contrast the land-carriage of goods to the water-carriage of goods.
Essay Topic 3
The gross revenue of a great country includes the whole annual produce of their land and labor and their net revenue, calculated after deducting the expense of maintaining their fixed and circulating capital. Explain with examples how fixed capital is maintained and how this maintenance benefits revenue.
This section contains 1,235 words
(approx. 5 pages at 300 words per page)