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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 does the author consider to be a wasteful use of gold?

2. What is the nominal price of a commodity?

3. What do princes and sovereign states frequently do with their coinage?

4. What kind of revenue is made from the interest on money?

5. How does an individual live within a civilized society?

Short Essay Questions

1. 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?

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

3. Why did the first recorded civilizations dwell on the coast of the Mediterranean Sea?

4. Who or what is involved in the manufacture and sale of a woolen coat?

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

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

7. Circulating capital which affords a revenue is composed of four parts. What are those four parts?

8. 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.

9. Give one example of how a tribe of hunters or shepherds would begin the process of division of labor?

10. Why is the division of labor not considered the effect of human wisdom?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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?

Essay Topic 2

"When a nation binds itself by treaty either to permit the entry of certain goods from one foreign country which it prohibits from all others, or to exempt the goods of one country from duties to which it subjects those of all others, the country, or at least the merchants and manufacturers of the country, whose commerce is so favored, must necessarily derive great advantage from the treaty." Explain with examples, how treaties, though they may be advantageous to the merchants and manufacturers of the favored, are necessarily disadvantageous to those of the favoring country.

Essay Topic 3

"The increase and riches of commercial and manufacturing towns contributed to the improvement and cultivation of the countries to which they belonged in three different ways." Explain with examples the three ways mentioned in the quote above.

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This section contains 1,185 words (approx. 4 pages at 300 words per page) View a FREE sample