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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 did the council of Castile determine?
(a) To take possession of countries where the inhabitants need to be converted to Christianity.
(b) To take possession of countries where there is the possibility of finding gold.
(c) To take possession of countries where the inhabitants are incapable of defending themselves.
(d) To take possession of countries where the inhabitants desire a new government.

2. As capital increases in any country, what happens to the profits which can be made by employing them ?
(a) They remain the same.
(b) They increase.
(c) They decrease.
(d) They promote growth.

3. Who should own lands like parks, gardens, and public walks?
(a) The crown.
(b) The public.
(c) No one.
(d) Individual owners.

4. What has increased in countries where interest on borrowed money has been prohibited by law?
(a) Industry does not grow.
(b) Capital is stagnant.
(c) Usury has increased.
(d) Money is borrowed from other countries.

5. Where do a farmer's or manufacturer's profits come from?
(a) From their stock.
(b) From their surplus.
(c) From what they produce.
(d) From their reserve.

Short Answer Questions

1. At the time the book was written, what increased the price of gold exported from Spain and Portugal?

2. What is the third part of capital use in every growing society?

3. Sugar was originally an enumerated commodity which could be exported only to which country?

4. What are the people who employ their own capital called?

5. Where does the town gain its wealth and subsistence from?

Short Essay Questions

1. What is the first duty of the sovereign and how is it performed?

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

3. 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?

4. How is unproductive labor maintained by revenue?

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

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

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

8. What is a drawback?

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

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

(see the answer keys)

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