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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. How are capitals increased?
(a) By misconduct.
(b) By prodigality.
(c) By parsimony.
(d) By industry.

2. What did the council of Castile determine?
(a) To take possession of countries where the inhabitants need to be converted to Christianity.
(b) To take possession of countries where there is the possibility of finding gold.
(c) To take possession of countries where the inhabitants desire a new government.
(d) To take possession of countries where the inhabitants are incapable of defending themselves.

3. In seeking for employment to a capital, what is preferred to foreign commerce?
(a) Inland manufacturers.
(b) Inland merchandizing.
(c) Domestic merchandizing.
(d) Domestic manufacturers.

4. Where should the capital of a manufacturer generally reside?
(a) At the most productive location.
(b) At the cheapest location.
(c) At a location close to his raw materials.
(d) At a location within his country.

5. What do hoarders fear in a rude state of society with no great mercantile or manufacturing capital?
(a) Necessary expenses.
(b) Plunder from the government.
(c) Extravagant expenses.
(d) Plunder from their peers.

6. Who besides productive and unproductive laborers are all equally maintained by the annual produce of the land and labor of the country?
(a) Those who labor in another country.
(b) Those who labor only for themselves.
(c) Those who do not labor at all.
(d) Those who are not citizens of the country.

7. What gave Great Britain the monopoly of supplying the colonies with all the commodities of growth and manufacturing?
(a) The Trade Agreement of 1780.
(b) The Colonial Commerce Bill.
(c) The Act for the Encouragement of Trade.
(d) The North American Trade Agreement.

8. What kind of wine is not a European commodity?
(a) Madeira.
(b) Bordeaux.
(c) Zinfadel.
(d) Merlot.

9. How are capitals diminished?
(a) By prodigality.
(b) By revenue.
(c) By industry.
(d) By parsimony.

10. Where is the wool of southern Scotland manufactured?
(a) London.
(b) Edinborough.
(c) Cork.
(d) Yorkshire.

11. What was the mint price of eight Paris ounces of gold according to the edict of January 1726?
(a) Seven hundred and twenty livres, nine sous, and one denier one-eleventh.
(b) Seven hundred and forty livres, nine sous, and one denier one-eleventh.
(c) Seven hundred and thirty livres, nine sous, and one denier one-eleventh.
(d) Seven hundred and ten livres, nine sous, and one denier one-eleventh.

12. What is true of both a farm and a retail trade?
(a) Each are confined to a precise spot.
(b) Each must invest their fixed capital.
(c) Each are suspectible to interest rates.
(d) Each are a mobile business.

13. What bill was published by Alexander III in the 12th century?
(a) The directive to bring more slaves into the country.
(b) The justification of slavery.
(c) The general emancipation of slaves.
(d) The forbidding of bringing more slaves into the country.

14. What is a common source of revenue for small republics?
(a) Exports.
(b) Small businesses.
(c) Surplus goods.
(d) Mercantile projects.

15. At the time the book was written, what increased the price of gold exported from Spain and Portugal?
(a) Depleted mines.
(b) Gold from Peru.
(c) Smuggling.
(d) More mines found.

Short Answer Questions

1. St. Thomas and Santa Cruz are the only new world countries ever possessed by which country?

2. How important is it that the merchant whose capital exports the surplus produce of any society be a native or a foreigner?

3. In modern armies, what is of more importance in determining the fate of battles?

4. At the time the book was written, what commodity regulated the value of all other home-made commodities?

5. Sugar was originally an enumerated commodity which could be exported only to which country?

(see the answer keys)

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