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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 was the common rate of interest on borrowing through the greater part of Europe before the discovery of the West Indies?

2. What is the whole annual produce of the land and labor of every country used for?

3. What kind of wine is not a European commodity?

4. What is the third part of capital use in every growing society?

5. What are the natural consequences of the law of primogeniture?

Short Essay Questions

1. What happens when a country forbids collecting interest on borrowed money?

2. Why do most men choose to employ their capitals in the improvement and cultivation of land?

3. What are bounties?

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

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

6. What are the four general maxims regarding taxes?

7. Define the original two kinds of militia.

8. How does the capital of a retailer and manufacturer differ?

9. What were the consequences of the German and Scythian nations overrunning the western provinces of the Roman empire?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

"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.

Essay Topic 2

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 3

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.

(see the answer keys)

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