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This quiz consists of 5 multiple choice and 5 short answer questions through End of Book 3 & Book 4, Chapter 1.

Multiple Choice Questions

1. What determines the ordinary market price of land?
(a) The ordinary market rate of gold.
(b) The ordinary market rate of corn.
(c) The ordinary market rate of product consumption.
(d) The ordinary market rate of interest.

2. What does the text say about the difference of the natural talents in men?
(a) That talent is natural and cannot be cultivated or improved.
(b) That all men have unique talents unto themselves.
(c) That they are not really that different.
(d) That they are so different as so never to be changeable.

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

4. What was the original price, the first purchase cost, for all things?
(a) Barter.
(b) Gold.
(c) Exchange of goods.
(d) Labor.

5. How many general types of fixed capital are there?
(a) Four.
(b) Three.
(c) Two.
(d) Five.

Short Answer Questions

1. What is capital?

2. In seeking for employment to a capital, what is preferred to foreign commerce?

3. Under division of labor, what generally supplies a man's wants?

4. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?

5. What year was the Bank of England allowed to enlarge its capital stock?

(see the answer key)

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