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

Multiple Choice Questions

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

2. What happens when the demand of a commodity is larger than the supply?
(a) The price falls.
(b) More goods are brought in.
(c) The commodity is sold out.
(d) The price rises.

3. How are capitals diminished?
(a) By revenue.
(b) By parsimony.
(c) By prodigality.
(d) By industry.

4. What is one consequence of marketplace competition?
(a) It lowers the need for workmen.
(b) It lowers the profits of stock.
(c) It lowers the wages of labor.
(d) It raises the profits of stock.

5. Where do a farmer's or manufacturer's profits come from?
(a) From their reserve.
(b) From what they produce.
(c) From their stock.
(d) From their surplus.

Short Answer Questions

1. In the ancient world, what was considered a most wonderful and dangerous exploit of navigation?

2. What do princes and sovereign states frequently do with their coinage?

3. What does the text say about the difference of the natural talents in men?

4. To what price do all commodities gravitate?

5. What kind of revenue remains free to a country after deducting the expense of maintaining their fixed circulating capital?

(see the answer key)

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