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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 do most men choose to employ their capitals?

2. What was the mint price of eight Paris ounces of gold according to the edict of January 1726?

3. What has increased in countries where interest on borrowed money has been prohibited by law?

4. Before the American Revolution, what monopoly did Britain hold in Maryland and Virginia?

5. What tends to discourage every industry in a given nation and enable foreign markets to undersell goods even in the home market?

Short Essay Questions

1. Why does the colony of a civilized nation which takes possession of thinly inhabited country make rapid advances in that country?

2. How does the capital of the wholesale merchant support the productive labor of society?

3. What is the difference between the two kinds of labor?

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

5. How has the natural order of growth been inverted in some of the the modern states of Europe?

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

7. What are the four general maxims regarding taxes?

8. In the North American colonies, what does an artificer do who has acquired a little more stock than is necessary for carrying on his own business in supplying the neighboring country?

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

10. Why would the proprietor of a colonist's land not dispute over wages, and indeed pay high wages?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

There are two different views concerning whether or not a nation in wealthy. One view says that money is the measure of wealth, while the other says movable goods are the measure. Compare and contrast these two points of view.

Essay Topic 2

With specific examples, compare and contrast the forms of defense among these different societies - 1. a nation of hunters; 2. a nation of shepherds; 3. a nation of husbandmen with no foreign commerce or manufacture.

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?

(see the answer keys)

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