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

Multiple Choice Questions

1. What limits the extent of the division of labor?
(a) The population.
(b) The raw products.
(c) The workmen.
(d) The market.

2. What is the common instrument of commerce and exchanges in some parts of the coast of India?
(a) Salt.
(b) Tobacco.
(c) Shells.
(d) Sugar.

3. What was the common rate of interest on borrowing through the greater part of Europe before the discovery of the West Indies?
(a) 12%.
(b) 11%.
(c) 10%.
(d) 9%.

4. What is another name for paper money?
(a) Circulating notes.
(b) Commerce notes.
(c) Debtors' notes.
(d) Promissory notes.

5. How long would it take for a broad-wheeled wagon, attended by two men, and drawn by eight horses, to carry four tons of goods between London and Edinburgh?
(a) Seven weeks.
(b) Six weeks.
(c) Four weeks.
(d) Five weeks.

Short Answer Questions

1. At the time the book was written, what increased the price of gold exported from Spain and Portugal?

2. What is the common instrument of commerce and exchanges in Virginia?

3. Labor measures the value of price which resolves itself into labor, rent, and what one other thing?

4. What was the common instrument of commerce among the ancient Romans?

5. What does the division of labor do for individual workmen?

(see the answer key)

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