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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 4 & Book 5, Chapter 1.

Multiple Choice Questions

1. How many ways are there to employ capital?
(a) 5.
(b) 3.
(c) 6.
(d) 4.

2. 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) Carrying trade.
(c) Consumption trade.
(d) Domestic revenue trade.

3. What is a borrower who uses his borrowed stock for immediate consumption?
(a) An investor.
(b) A prodigal.
(c) A merchant.
(d) A laborer.

4. What happens when the quantity of silver increases?
(a) Its value is diminished.
(b) Its value is increased.
(c) Its value is unaffected.
(d) Its value is under appreciated.

5. In some measure, every man in a growing commercial society becomes what?
(a) A farmer.
(b) A tinker.
(c) A scholar.
(d) A merchant.

Short Answer Questions

1. What has increased in countries where interest on borrowed money has been prohibited by law?

2. Why are new machines more likely to be invented under division of labor?

3. According to the author why, two or three centuries before, were his British ancestors mostly idle concerning industry?

4. To what price do all commodities gravitate?

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

(see the answer key)

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