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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 are the two kinds of labor?
(a) Wage earning and charitable.
(b) Manual and mental.
(c) Productive and unproductive.
(d) Professional and unskilled.

2. What to British manufacturers import from the coasts of the Baltic?
(a) Molasses and sugar cane.
(b) Flax and hemp.
(c) Cotton and linen.
(d) Sugar and rum.

3. Where do a merchant's or retailer's profits come from?
(a) From what they buy.
(b) From what they save.
(c) From what they both buy and sell.
(d) From what they sell.

4. What is true of both a farm and a retail trade?
(a) Each are suspectible to interest rates.
(b) Each are confined to a precise spot.
(c) Each are a mobile business.
(d) Each must invest their fixed capital.

5. What was one consequence when the German and Scythian nations overran the western provinces of the Roman empire?
(a) The inhabitants were made slaves.
(b) The towns were razed.
(c) The country was left uncultivated.
(d) The inhabitants immgrated to other countries.

Short Answer Questions

1. Where does vanity almost always lead?

2. What is the name of a species of farmers in France who succeeded the slave cultivators of ancient times?

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

4. Who concluded the treaty of commerce between England and Portugal in 1703?

5. What is the old subsidy rule?

Short Essay Questions

1. How does the capital of the wholesale merchant support the productive labor of society?

2. What happens when a country forbids collecting interest on borrowed money?

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

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

5. Why does the colony of a civilized nation which takes possession of thinly inhabited country make rapid advances in that country?

6. Why does want of parsimony in time of peace necessitate the contracting of debt in time of war?

7. What is a drawback?

8. Why would the proprietor of a colonist's land not dispute over wages, and indeed pay high wages?

9. How has the natural order of growth been inverted in some of the the modern states of Europe?

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

(see the answer keys)

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