View a FREE sample

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

Multiple Choice Questions

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

2. At the time the book was written, what commodity regulated the value of all other home-made commodities?
(a) Textiles.
(b) Corn.
(c) Wheat.
(d) Wine.

3. 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.

4. In modern armies, what is of more importance in determining the fate of battles?
(a) Practice and drills.
(b) The expertise of the officers.
(c) Dexerity and skill of soldiers.
(d) Prompt obedience to commands.

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

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

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

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

9. Who concluded the treaty of commerce between England and Portugal in 1703?
(a) Mr. Menchan.
(b) Mr. Metuel.
(c) Mr. Melkson.
(d) Mr. Methuen.

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

11. Which profession is not an example of an artificer?
(a) Farmers.
(b) Tanners.
(c) Wheel-wrights.
(d) Carpenters.

12. When a government has borrowed a great deal of money, what is the justification for imposing new taxes?
(a) To pay back the borrowed money.
(b) To run a government which has become more expensive.
(c) To refill the emptied treasury.
(d) To pay the interest on the borrowed money.

13. 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) The fall in the money price of commodities.
(c) The rise in the money price of commodities.
(d) Government directed money prices of commodities.

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

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

Short Answer Questions

1. As capital increases in any country, what happens to the profits which can be made by employing them ?

2. In seeking for employment to a capital, what is preferred to foreign commerce?

3. What happens when the quantity of silver increases?

4. What happens to productive labor when the funds for maintaining it are increased?

5. Who besides productive and unproductive laborers are all equally maintained by the annual produce of the land and labor of the country?

(see the answer keys)

This section contains 587 words (approx. 2 pages at 300 words per page) View a FREE sample