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

Multiple Choice Questions

1. How should revenue from public stock be supplemented?
(a) By selling commodities.
(b) By taxing the people.
(c) By taxing land owners.
(d) By selling the stock.

2. In 1715, what was the name of the accumulated taxes which had been mortgaged for paying the bank annuity?
(a) The Accumulated Fund.
(b) The Differential Fund.
(c) The Augmented Fund.
(d) The Aggregate Fund.

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

4. What is the first part of capital use in every growing society?
(a) Inland commerce.
(b) Foreign commerce.
(c) Manufacturers.
(d) Agriculture.

5. What is the third part of capital use in every growing society?
(a) Foreign commerce.
(b) Inland commerce.
(c) Manufacturers.
(d) Agriculture.

6. What is the inherent nature of stock and credit?
(a) They are stable and permanent.
(b) They are unstable but renewable.
(c) They are unstable and perishable.
(d) They are stable and renewable.

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

8. What happens to productive labor when the funds for maintaining it are increased?
(a) It receives wage reduction.
(b) It grows greater.
(c) It demands wage increase.
(d) It grows less.

9. Where does vanity almost always lead?
(a) To parismony.
(b) To superiority.
(c) To extravangance.
(d) To poverty.

10. Before the American Revolution, what monopoly did Britain hold in Maryland and Virginia?
(a) Tobacco.
(b) Molasses.
(c) Wheat.
(d) Textiles.

11. What does the proportion between capital and revenue regulate?
(a) The proportion between capital and money.
(b) The proportion between production and wages.
(c) The proportion between industry and idleness.
(d) The proportion between labor and manufacturing.

12. What is the second part of capital use in every growing society?
(a) Manufacturers.
(b) Foreign commerce.
(c) Agriculture.
(d) Inland commerce.

13. 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?
(a) It is less in poor countries.
(b) It is less in rich countries.
(c) It is greater in poor countries.
(d) It is greater in rich countries.

14. What has increased in countries where interest on borrowed money has been prohibited by law?
(a) Industry does not grow.
(b) Capital is stagnant.
(c) Usury has increased.
(d) Money is borrowed from other countries.

15. 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 buys land for improvement.
(b) He reinvests his stock into his business.
(c) He seeks to sell in distance towns.
(d) He invests his stock in more workmen

Short Answer Questions

1. Who concluded the treaty of commerce between England and Portugal in 1703?

2. What determines the ordinary market price of land?

3. How are almost all loans made?

4. What supplies the inhabitants of the town both with the materials of their work, and the means of their subsistence?

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

(see the answer keys)

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