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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. What happens when the quantity of silver increases?
(a) Its value is increased.
(b) Its value is unaffected.
(c) Its value is under appreciated.
(d) Its value is diminished.

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

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

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 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.

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

Short Answer Questions

1. Where should the capital of a manufacturer generally reside?

2. In 1715, what was the name of the accumulated taxes which had been mortgaged for paying the bank annuity?

3. What did the council of Castile determine?

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. What must defray the expense of defense and government?

Short Essay Questions

1. Why do most men choose to employ their capitals in the improvement and cultivation of land?

2. What are the four general maxims regarding taxes?

3. How is the military an example of unproductive labor?

4. What is the principal cause for the rapid progress of the American colonies towards wealth?

5. What is a drawback?

6. The whole annual produce of the land and labor of every country, which comes either from the ground, or from the hands of the productive laborers, is divided into what two parts?

7. Define the original two kinds of militia.

8. What were the consequences of the German and Scythian nations overrunning the western provinces of the Roman empire?

9. What are the three ways capital is used in the natural growth of a new society?

10. What are the two ways to impose land tax?

(see the answer keys)

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