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

2. What is the common instrument of commerce and exchanges in Virginia?
(a) Sugar.
(b) Tobacco.
(c) Shells.
(d) Salt.

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

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

5. According to Homer, how much did the armor of Diomede cost?
(a) Eleven oxen.
(b) Ten oxen.
(c) Nine oxen.
(d) Eight oxen.

Short Answer Questions

1. Where does the town gain its wealth and subsistence from?

2. What year was the Bank of England allowed to enlarge its capital stock?

3. When was the Bank of England incorporated?

4. What kind of rent is paid by a farmer?

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

(see the answer key)

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