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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. What to British manufacturers import from the coasts of the Baltic?
(a) Cotton and linen.
(b) Sugar and rum.
(c) Molasses and sugar cane.
(d) Flax and hemp.

2. What is the principal cause of the rapid progress of the American colonies?
(a) Nearly their entire capitals are employed in commerce.
(b) Nearly their entire capitals are employed in agriculture.
(c) Nearly their entire capitals are employed in settlements.
(d) Nearly their entire capitals are employed in land.

3. What is the old subsidy rule?
(a) Any particular employment cannot draw a greater share of capital to hinder they duty from other employments.
(b) Drawbacks must preserve the natural division and distribution of labor in society.
(c) Merchants were allowed to draw back half their duty on exported goods.
(d) By act of parliment, duties are imposed only on foreign goods.

4. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?
(a) Greece.
(b) Italy.
(c) Turkey.
(d) Egypt.

5. Under division of labor, what generally supplies a man's wants?
(a) The produce of a man's own labor.
(b) The produce of the country's labor.
(c) The produce of society's labor.
(d) The produce of other men's labor.

Short Answer Questions

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

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

3. To what price do all commodities gravitate?

4. What was the common rate of interest on borrowing through the greater part of Europe before the discovery of the West Indies?

5. What was the original price, the first purchase cost, for all things?

(see the answer key)

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