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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 a consequence of replacing gold money with paper money?
(a) It promotes a new industry.
(b) It costs less both to erect and to maintain.
(c) It allows for increased wages.
(d) It allows for more buying power.

2. What is another name for paper money?
(a) Debtors' notes.
(b) Promissory notes.
(c) Commerce notes.
(d) Circulating notes.

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

4. What is true about the amount of metal coins which circulate in a society?
(a) They fluctuate the revenue of the society.
(b) They can never be equal to the revenue of the society.
(c) They are equal to the revenue of the society.
(d) They have no relation to the revenue of the society.

5. What was the common instrument of commerce among the ancient Spartans?
(a) Copper.
(b) Iron.
(c) Gold.
(d) Silver.

Short Answer Questions

1. What word expressed the weight or quantity of metal contained in the first coins?

2. What is a person's revenue equal to?

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

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

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

(see the answer key)

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