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

2. What is the third part of capital use in every growing society?
(a) Foreign commerce.
(b) Manufacturers.
(c) Inland commerce.
(d) Agriculture.

3. What is not an example of unproductive labor?
(a) The school room.
(b) The military.
(c) The church.
(d) The traders shop.

4. What is the real price of a thing a person wants?
(a) The money it takes to purchase it.
(b) The toil and trouble of acquiring it.
(c) The labor it takes to pay for it.
(d) The price marked as its cost.

5. How does annual consumption compare to annual spending?
(a) More is consumed.
(b) More is spent.
(c) They are nearly the same.
(d) There is no correlation.

Short Answer Questions

1. What kind of revenue constitutes the whole annual produce of the a country's land and labor?

2. When does the quantity of stock to be lent at interest grow?

3. Why are the silks of France better and cheaper than those of England?

4. What is true of the capital employed in agriculture and in the retail trade of any society?

5. What is one consequence for society where the division of labor is practiced?

(see the answer key)

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