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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. Which country's inland navigation caused its early improvement?
2. What do princes and sovereign states frequently do with their coinage?
3. Which Mediterranean country seems to have been the first in which either agriculture or manufacturers were cultivated and improved to any considerable degree?
4. What kind of business does not lend itself to many subdivisions of labor?
5. What does the text say about the difference of the natural talents in men?
Short Essay Questions
1. What is the difference between the real price of a commodity and the nominal price of a commodity?
2. Who or what is involved in the manufacture and sale of a woolen coat?
3. Give one example of how a tribe of hunters or shepherds would begin the process of division of labor?
4. Give one example of how a country workman is obliged to apply himself to all the different branches of industry that employ the same sort of materials.
5. Why do commercial nations use coins of different kinds of metals?
6. How do fixed capital and circulating money resemble each other?
7. Explain a farmer's fixed and circulating capital.
8. How are the differences in men of different professions fostered?
9. What are the two ways in which a capital may be employed so as to yield a revenue or profit to its employer.
10. Why are circulating and fixed capital different for different occupations?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
The gross revenue of a great country includes the whole annual produce of their land and labor and their net revenue, calculated after deducting the expense of maintaining their fixed and circulating capital. Explain with examples how fixed capital is maintained and how this maintenance benefits revenue.
Essay Topic 2
Explain with examples, the three reasons why laying extraordinary restraints upon particular countries with which the importation of goods of almost all kinds from balance of trade is not disadvantageous as supposed, but rather the results of national prejudice and animosity.
Essay Topic 3
Explain the general characteristics of the division of labor between small and large manufacturers. How are they the same? How are they different? How is division of labor generally advantageous?
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This section contains 1,102 words (approx. 4 pages at 300 words per page) |
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