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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. Why are the silks of France better and cheaper than those of England?
(a) Because silk manufacturing is not as well suited to the climate of England as it is to that of France.
(b) Because France has an extreme surplus of silk manufacturers.
(c) Because there is little demand for English silk.
(d) Because silk manufacturing is not popular in England.

2. What is the only universal, only accurate measure of value, only standard by which we can compare the values of different commodities at all times and at all places?
(a) Labor.
(b) Gem stones.
(c) Silver.
(d) Gold.

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

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

5. What does an artificer who lives where there is either no uncultivated land, or none that can be had upon easy terms, do when he has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?
(a) He seeks to sell in distance towns.
(b) He buys land for improvement.
(c) He reinvests his stock into his business.
(d) He invests his stock in more workmen

Short Answer Questions

1. What is the real price of a thing a person wants?

2. What kind of capital is employed in raising, manufacturing, or purchasing goods, and selling them again with a profit?

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

4. What are the three original sources of all revenue?

5. What is the intention of the fixed capital?

(see the answer key)

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