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This quiz consists of 5 multiple choice and 5 short answer questions through Book 2, Chapter 3.

Multiple Choice Questions

1. The ordinary or average rates of wages, profit, and rent may also be called what?
(a) The derived rates.
(b) The natural rates.
(c) The commodity rates.
(d) The common rates.

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

3. What kind of revenue constitutes the whole annual produce of the a country's land and labor?
(a) Gross revenue.
(b) Net revenue.
(c) Production revenue.
(d) Consumption revenue.

4. What kind of rent comes to the landlord after deducting the expense of management, of repairs, and all other necessary charges?
(a) Consumption rent.
(b) Net rent.
(c) Production rent.
(d) Gross rent.

5. What encourages every man to apply himself to an occupation and cultivate whatever talent he may possess for that particular business?
(a) The desire that the knowledge of his occupation will be passed down to his sons and grandsons.
(b) The knowledge that his surplus of production can be exchanged for something he needs.
(c) The hope that his expertise will allow him to excel in even greater endeavors.
(d) The knowledge that his productive life enriches the lives of others.

Short Answer Questions

1. What is it called when gold purchases goods in one foreign country in order to supply the consumption of another?

2. According to the text, what does this saying describe: "Give me that which I want, and you shall have this which you want"?

3. When was the Bank of England incorporated?

4. How are capitals diminished?

5. What is the common instrument of commerce and exchanges in Abyssinia?

(see the answer key)

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