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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. What kind of rent is paid by a farmer?
2. What year was the Bank of England allowed to enlarge its capital stock?
3. Under what circumstance would every man have to perform exactly the same duties and do exactly the same work?
4. What limits the extent of the division of labor?
5. What is the state of the greater part of the laboring poor in all countries?
Short Essay Questions
1. Who or what is involved in the manufacture and sale of a woolen coat?
2. 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.
3. In every society or neighborhood, how is the ordinary or average rate both of wages and profit regulated?
4. Who commonly makes improvements in manufacturing machinery?
5. How does the multiplication of the productions of all the different arts, in consequence of the division of labor in a well-governed society, extend opulence to the lowest ranks of the people?
6. What is the difference between the real price of a commodity and the nominal price of a commodity?
7. Why is the division of labor not considered the effect of human wisdom?
8. Why are circulating and fixed capital different for different occupations?
9. What are the two possible origins of the propensity to truck, barter, and exchange one thing for another?
10. What two advantages did the banking companies of Scotland gain by dealing only with men who had frequent and regular operations with them?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Merchants and manufacturers desire the most extensive foreign sale for their goods but their home country has no jurisdiction in foreign nations. Consequently, they are obliged to petition for certain encouragements to exportation. These encouragements what are called drawbacks. Explain with examples how drawbacks work for both the exporting and importing country. What are the benefits and/or hindrances to both?
Essay Topic 2
Define and give examples for the two different meanings of the word 'value' as applied to use and exchange.
Essay Topic 3
"Though all capitals are destined for the maintenance of productive labor only, yet the quantity of that labor which equal capitals are capable of putting into motion varies extremely according to the diversity of their employment." Explain and give examples of the four different ways that capital can be employed and tell why these four ways are absolutely necessary.
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This section contains 1,068 words (approx. 4 pages at 300 words per page) |
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