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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 first six years of life would have been very similar.
(b) Their family life would be very similar.
(c) Their desire and motivations would be very similar.
(d) Their goals for life would be very similar.

2. What was one problem with the use of rude metals?
(a) Weighing them.
(b) Mining them.
(c) Keeping them safe.
(d) Transporting them.

3. Originally, what did sailors fear?
(a) That their compasses were inaccurate.
(b) That islands moved around in the sea.
(c) Navigating on a cloudy night.
(d) Being out of sight of the shore.

4. In every occupation, what is the general proportion between circulating and fixed capital?
(a) They are varyingly very different.
(b) They are always equal.
(c) There is always more fixed capital.
(d) There is always more circulating capital.

5. When was the Bank of England incorporated?
(a) The 27th of July, 1693.
(b) The 27th of July, 1694.
(c) The 27th of July, 1695.
(d) The 27th of July, 1696.

Short Answer Questions

1. How many general types of fixed capital are there?

2. What kind of capital is employed in raising, manufacturing, or purchasing goods, and selling them again with a profit?

3. What is true about the amount of metal coins which circulate in a society?

4. What opens an even more extensive market to every sort of industry?

5. What is one characteristic of the Mediterranean Sea which made it favorable for infant navigation?

Short Essay Questions

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

2. How does private property change the land of any country?

3. How is the circulating capital of a society different from that of an individual?

4. What two values does the workman add to manufactured materials?

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

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

7. In every society or neighborhood, how is an ordinary or average rate of rent regulated?

8. Why are circulating and fixed capital different for different occupations?

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

10. Give one example of how a tribe of hunters or shepherds would begin the process of division of labor?

(see the answer keys)

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