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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 year was the Bank of England allowed to enlarge its capital stock?
(a) 1695.
(b) 1697.
(c) 1696.
(d) 1698.

2. What are the three original sources of all revenue?
(a) Profit, taxes, and commerce.
(b) Trade, taxes, and wages.
(c) Wages, profit, and rent.
(d) Commerce, taxes, and trade.

3. What opens an even more extensive market to every sort of industry?
(a) Faster horses.
(b) Improved inland transporation.
(c) Water-carriage.
(d) Land-carriage.

4. What was prohibited from exportation in France until 1764?
(a) Wine.
(b) Corn.
(c) Silks.
(d) Wheat.

5. What is a borrower who uses his borrowed stock for immediate consumption?
(a) An investor.
(b) A laborer.
(c) A merchant.
(d) A prodigal.

Short Answer Questions

1. What comes before convenience?

2. What is the old subsidy rule?

3. What tends to discourage every industry in a given nation and enable foreign markets to undersell goods even in the home market?

4. How does that part of the annual production, which comes either from the ground or from the hands of the productive laborers and is destined for replacing capital, compare between rich and poor countries?

5. What becomes the common instrument of commerce when barter ceases?

(see the answer key)

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