View a FREE sample

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

2. What is the principal cause of the rapid progress of the American colonies?
(a) Nearly their entire capitals are employed in commerce.
(b) Nearly their entire capitals are employed in land.
(c) Nearly their entire capitals are employed in agriculture.
(d) Nearly their entire capitals are employed in settlements.

3. What kind of rent is paid by a farmer?
(a) Production rent.
(b) Gross rent.
(c) Net rent.
(d) Consumption rent.

4. What is the ultimate and real standard by which the value of all commodities can, at all times and places, be estimated and compared?
(a) Production.
(b) Labor.
(c) Silver.
(d) Gold.

5. What regulates the quantity of materials and provisions that a town buys?
(a) The quantity of work the country has to sell.
(b) The quantity of raw materials they get from those in the country.
(c) The quantity of work they sell to those in the country.
(d) The quantity of manufacture they get from those in the country.

Short Answer Questions

1. Originally, what did sailors fear?

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

3. Who are most likely to make improvements upon or invent new machines for manufacture?

4. What does the proportion between capital and revenue regulate?

5. What kind of commodity must be sold quickly?

(see the answer key)

This section contains 345 words (approx. 2 pages at 300 words per page) View a FREE sample