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

Multiple Choice Questions

1. What is the whole annual produce of the land and labor of every country used for?
(a) Manufacture and trade.
(b) Tax and employment.
(c) Consumption and revenue.
(d) Stock and commerce.

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

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

4. 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 invests his stock in more workmen
(c) He reinvests his stock into his business.
(d) He seeks to sell in distance towns.

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

6. What must defray the expense of defense and government?
(a) Revenue.
(b) Draw backs fees.
(c) Profit.
(d) Exports bounties.

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

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

9. What is true of the capital employed in agriculture and in the retail trade of any society?
(a) They must always reside within that society.
(b) They must always earn within that society.
(c) They must always do commerce within that society.
(d) They must always produce within that society.

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

11. How are almost all loans made?
(a) In silver.
(b) In goods.
(c) In paper money.
(d) In gold.

12. What was the first article in the treaty of commerce between England and Portugal?
(a) British wine will be exported to Portugal.
(b) British wheat will be exported to Portugal.
(c) British corn will be exported to Portugal.
(d) British woolen cloth will be exported to Portugal.

13. What to British manufacturers import from the coasts of the Baltic?
(a) Molasses and sugar cane.
(b) Sugar and rum.
(c) Flax and hemp.
(d) Cotton and linen.

14. What tends to discourage every industry in a given nation and enable foreign markets to undersell goods even in the home market?
(a) Fixed money prices of commodities.
(b) Government directed money prices of commodities.
(c) The rise in the money price of commodities.
(d) The fall in the money price of commodities.

15. What is the name of a species of farmers in France who succeeded the slave cultivators of ancient times?
(a) Mamtroers.
(b) Metayers.
(c) Motrammers.
(d) Milayers.

Short Answer Questions

1. What is not an example of unproductive labor?

2. Where do a merchant's or retailer's profits come from?

3. What was unserviceable for corn merchants, exporters, and importers?

4. What is true of both a farm and a retail trade?

5. Who should own lands like parks, gardens, and public walks?

(see the answer keys)

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