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

Multiple Choice Questions

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

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

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

4. Sugar was originally an enumerated commodity which could be exported only to which country?
(a) Spain.
(b) North America.
(c) Great Britain.
(d) Jamaica.

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

6. What regulates the quantity of materials and provisions that a town buys?
(a) The quantity of work the country has to sell.
(b) The quantity of work they sell to those in the country.
(c) The quantity of raw materials they get from those in the country.
(d) The quantity of manufacture they get from those in the country.

7. During the twelve years of the reign of Queen Anne, what was the highest interest rate which could be taken for borrowed money?
(a) 5%.
(b) 3%.
(c) 6%.
(d) 4%.

8. St. Thomas and Santa Cruz are the only new world countries ever possessed by which country?
(a) Germany.
(b) Sweden.
(c) Denmark.
(d) Holland.

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

10. What does the lender consider stock lent at an interest?
(a) A capital.
(b) A revenue.
(c) An industry.
(d) A profit.

11. What was unserviceable for corn merchants, exporters, and importers?
(a) Tax rebates.
(b) Subsidy pricing.
(c) The bounty.
(d) Drawbacks.

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

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

14. What is one consequence of marketplace competition?
(a) It lowers the wages of labor.
(b) It raises the profits of stock.
(c) It lowers the need for workmen.
(d) It lowers the profits of stock.

15. What does a North American colonial artificer 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 invests his stock in more workmen.
(c) He buys land for improvement.
(d) He reinvests his stock into his business.

Short Answer Questions

1. What determines the ordinary market price of land?

2. What has increased in countries where interest on borrowed money has been prohibited by law?

3. What is the inherent nature of stock and credit?

4. Where does the town gain its wealth and subsistence from?

5. According to the author why, two or three centuries before, were his British ancestors mostly idle concerning industry?

(see the answer keys)

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