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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Which country's inland navigation caused its early improvement?
(a) Greece.
(b) Turkey.
(c) Italy.
(d) Egypt.

2. In the ancient world, what was considered a most wonderful and dangerous exploit of navigation?
(a) To not invoke the gods' blessings on the journey.
(b) To sail out of the Streights of Gibraltar.
(c) To sail down an unknown coast.
(d) To sail with a woman on board.

3. What is a common characteristic for a workman under division of labor?
(a) Every workman has the means to improve himself.
(b) Every workman has increased purchasing power.
(c) Every workman produces more than he needs.
(d) Every workman is equal to every other workman.

4. What does the text say about the difference of the natural talents in men?
(a) That talent is natural and cannot be cultivated or improved.
(b) That all men have unique talents unto themselves.
(c) That they are so different as so never to be changeable.
(d) That they are not really that different.

5. How many general types of fixed capital are there?
(a) Five.
(b) Three.
(c) Two.
(d) Four.

Short Answer Questions

1. What kind of revenue remains free to a country after deducting the expense of maintaining their fixed circulating capital?

2. Which is not a reason for the increase of the quantity of work under division of labor?

3. What kind of rent is paid by a farmer?

4. In every occupation, what is the general proportion between circulating and fixed capital?

5. What kind of demand brings a commodity to market?

Short Essay Questions

1. Using an example from the text, explain how the value of the most precious metal used for coinage regulates the value of coins made with a lesser metal.

2. Give one example of how a country workman is obliged to apply himself to all the different branches of industry that employ the same sort of materials.

3. How do fixed capital and circulating money resemble each other?

4. Why is the division of labor not considered the effect of human wisdom?

5. What are the two ways in which a capital may be employed so as to yield a revenue or profit to its employer.

6. Circulating capital which affords a revenue is composed of four parts. What are those four parts?

7. How does the multiplication of the productions of all the different arts, in consequence of the division of labor in a well-governed society, extend opulence to the lowest ranks of the people?

8. In every society or neighborhood, how is the ordinary or average rate both of wages and profit regulated?

9. Who commonly makes improvements in manufacturing machinery?

10. Give an example of one kind of job which requires a great town.

(see the answer keys)

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