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This quiz consists of 5 multiple choice and 5 short answer questions through Book 3, Chapter 1.

Multiple Choice Questions

1. What is it called when gold purchases goods in one foreign country in order to supply the consumption of another?
(a) Carrying trade.
(b) Consumption trade.
(c) Domestic revenue trade.
(d) Foreign purchase trade.

2. What comes before convenience?
(a) Maintenance.
(b) Opulence.
(c) Luxury.
(d) Subsistence.

3. In all countries, what do men prefer in exchange for commodities?
(a) Gem stones.
(b) Like goods.
(c) Precious metals.
(d) Labor.

4. 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?
(a) He buys land for improvement.
(b) He reinvests his stock into his business.
(c) He invests his stock in more workmen
(d) He seeks to sell in distance towns.

5. What is the second part of capital use in every growing society?
(a) Foreign commerce.
(b) Manufacturers.
(c) Agriculture.
(d) Inland commerce.

Short Answer Questions

1. When was the Bank of England incorporated?

2. What is a consequence of replacing gold money with paper money?

3. What kind of revenue constitutes the whole annual produce of the a country's land and labor?

4. What was the original form of the metals used for commerce?

5. Which profession is not an example of an artificer?

(see the answer key)

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