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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. How are the dispositions that form the difference of talents of various professions considered?

2. What does the text say about the difference of the natural talents in men?

3. How many general types of circulating capital are there?

4. What kind of demand brings a commodity to market?

5. Originally, what did sailors fear?

Short Essay Questions

1. Why do commercial nations use coins of different kinds of metals?

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

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

4. Give an example of one kind of job which requires a great town.

5. Why was the assaying of precious metals originally a problem?

6. What are the two ways in which a capital may be employed so as to yield a revenue or profit to its employer.

7. What would happen at the end of a war, if the enemy confiscated the gold upon which the losing country's paper money was based?

8. What was the purpose of the first public stamps affixed to metals?

9. Why is it difficult to determine the exchange value between two different kinds of labor?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

As explained in the text, compare and contrast the general social exchange activity between men with the general social exchange activity between animals of the same species.

Essay Topic 2

The text says "Labour measures the value not only of that part of price which resolves itself into labour, but of that which resolves itself into rent, and of that which resolves itself into profit." Explain with examples how the price of every commodity in every improved society finally resolves itself into all of those three parts.

Essay Topic 3

Explain with examples how restraining, high duties, or absolute prohibitions on the importation of foreign goods that can be produced at home secure a domestic monopoly.

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