Naked Economics: Undressing the Dismal Science Quiz | One Week Quiz A

Charles Wheelan
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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?
(a) 1988.
(b) 1993.
(c) 2000.
(d) 1997.

2. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?
(a) Futures contract.
(b) Supply and demand.
(c) Asset allocation.
(d) Business cycle.

3. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?
(a) Differential equation.
(b) Deductive equation.
(c) Depression equation.
(d) Derivative equation.

4. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?
(a) Pork barrel.
(b) Deductive reasoning.
(c) Public policy.
(d) Perverse incentives.

5. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?
(a) 2002.
(b) 1998.
(c) 2005.
(d) 1994.

Short Answer Questions

1. What is the fourth simple need of financial markets, as discussed in Chapter 7?

2. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?

3. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?

4. According to the principles of a market economy, if it's raining, it's time to sell what?

5. Ross Perot ran for President of the United States in what year?

(see the answer key)

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