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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. How are a philosopher and a street porter the same?
(a) Their goals for life would be very similar.
(b) Their family life would be very similar.
(c) Their first six years of life would have been very similar.
(d) Their desire and motivations would be very similar.

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

3. Which commodity is more susceptible to price variations?
(a) Gold.
(b) Corn.
(c) Wool.
(d) Linen.

4. How many times more goods on a broad-wheeled wagon can be carried from London to Edinburgh by water-carriage in the same amount of time?
(a) 55.
(b) 50.
(c) 45.
(d) 40.

5. Commonly, why does man #1 help man #2?
(a) Because man #2 has agreed to pay man #1.
(b) Because man #1 sees man #2's genuine need for help.
(c) Because man #1 has a capacity for benevolence.
(d) Because man #1 derives personal benefit from helping man #2.

Short Answer Questions

1. What is capital?

2. Originally, what did sailors fear?

3. What kind of revenue constitutes the whole annual produce of the a country's land and labor?

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

5. To what price do all commodities gravitate?

Short Essay Questions

1. What are the two possible origins of the propensity to truck, barter, and exchange one thing for another?

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

3. 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?

4. How does the market limit the division of labor?

5. What two advantages did the banking companies of Scotland gain by dealing only with men who had frequent and regular operations with them?

6. Why is it difficult to determine the exchange value between two different kinds of labor?

7. How are the differences in men of different professions fostered?

8. Why did the first recorded civilizations dwell on the coast of the Mediterranean Sea?

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

10. Why was the assaying of precious metals originally a problem?

(see the answer keys)

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