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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. How are a philosopher and a street porter the same?
(a) Their first six years of life would have been very similar.
(b) Their goals for life would be very similar.
(c) Their desire and motivations would be very similar.
(d) Their family life would be very similar.

2. What can be said for division of labor for all kinds of manufacturing?
(a) Machines replace many workmen who are moved to other jobs.
(b) Division of labor does not affect the quantity of products manufactured.
(c) The quality of products manufactured are improved greatly.
(d) Many individuals and processes come together to complete a product.

3. According to the text, what does this saying describe: "Give me that which I want, and you shall have this which you want"?
(a) A bargain.
(b) A fair trade.
(c) A mutual offer.
(d) A business propostion.

4. Which country's inland navigation caused its early improvement?
(a) Turkey.
(b) Greece.
(c) Italy.
(d) Egypt.

5. What has increased in countries where interest on borrowed money has been prohibited by law?
(a) Capital is stagnant.
(b) Money is borrowed from other countries.
(c) Industry does not grow.
(d) Usury has increased.

Short Answer Questions

1. Labor measures the value of price which resolves itself into labor, rent, and what one other thing?

2. What regulates the price of every particular commodity?

3. Who besides productive and unproductive laborers are all equally maintained by the annual produce of the land and labor of the country?

4. What kind of business does not lend itself to many subdivisions of labor?

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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