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

2. Labor measures the value of price which resolves itself into labor, rent, and what one other thing?
(a) Demand.
(b) Tax.
(c) Wages.
(d) Profit.

3. What kind of demand brings a commodity to market?
(a) A natural demand.
(b) A proportionate demand.
(c) An absolute demand.
(d) An effectual demand.

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

5. Commonly, why does man #1 help man #2?
(a) Because man #2 has agreed to pay man #1.
(b) Because man #1 derives personal benefit from helping man #2.
(c) Because man #1 has a capacity for benevolence.
(d) Because man #1 sees man #2's genuine need for help.

Short Answer Questions

1. How are a philosopher and a street porter the same?

2. What regulates the price of every particular commodity?

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

4. What was the common instrument of commerce among the ancient Romans?

5. When was the Bank of England incorporated?

(see the answer key)

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