View a FREE sample

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

Multiple Choice Questions

1. How are almost all loans made?
(a) In gold.
(b) In goods.
(c) In silver.
(d) In paper money.

2. What determines the ordinary market price of land?
(a) The ordinary market rate of interest.
(b) The ordinary market rate of corn.
(c) The ordinary market rate of product consumption.
(d) The ordinary market rate of gold.

3. Why isn't the wool of southern Scotland manufactured there?
(a) It's cheaper to manufacture it elsewhere.
(b) They don't have enough laborers to manufacture it.
(c) They don't have the factory to manufacture it.
(d) They don't have the capital to manufacture it.

4. How do most men choose to employ their capitals?
(a) Improvement of land.
(b) Foreign trade.
(c) Agriculture.
(d) Manufactures.

5. Who besides productive and unproductive laborers are all equally maintained by the annual produce of the land and labor of the country?
(a) Those who labor only for themselves.
(b) Those who labor in another country.
(c) Those who are not citizens of the country.
(d) Those who do not labor at all.

Short Answer Questions

1. When a government has borrowed a great deal of money, what is the justification for imposing new taxes?

2. What are the two kinds of labor?

3. What regulates the quantity of materials and provisions that a town buys?

4. As capital increases in any country, what happens to the profits which can be made by employing them ?

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

Short Essay Questions

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

2. What is the significance of where the capital of a manufacturer resides?

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

4. How is the interest rate for borrowed money determined?

5. How does the capital of a retailer and manufacturer differ?

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

7. What are the four general maxims regarding taxes?

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

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

10. What are the two ways a borrower can use borrowed stock?

(see the answer keys)

This section contains 1,191 words (approx. 4 pages at 300 words per page) View a FREE sample