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

Multiple Choice Questions

1. Who should own lands like parks, gardens, and public walks?
(a) The public.
(b) No one.
(c) The crown.
(d) Individual owners.

2. Where does the town gain its wealth and subsistence from?
(a) Its capital.
(b) The country.
(c) Its manufacturers.
(d) Society.

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

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

5. What are the people who employ their own capital called?
(a) Productive laborers.
(b) Unproductive laborers.
(c) Productive consumers.
(d) Unproductive consumers.

6. What determines the ordinary market price of land?
(a) The ordinary market rate of corn.
(b) The ordinary market rate of gold.
(c) The ordinary market rate of interest.
(d) The ordinary market rate of product consumption.

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

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

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

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

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

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

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

14. What is an example of a mercantile project?
(a) A textile company.
(b) A corn field.
(c) A gold mine.
(d) A post office.

15. What was one consequence when the German and Scythian nations overran the western provinces of the Roman empire?
(a) The inhabitants immgrated to other countries.
(b) The country was left uncultivated.
(c) The towns were razed.
(d) The inhabitants were made slaves.

Short Answer Questions

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

2. What does the part of the annual production of the land and labor of any country which replaces a capital do?

3. Which society sends the least number of men to war in proportion to the whole population?

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?

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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