|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.
Multiple Choice Questions
1. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who sees London?"
(b) "Who hears New York?"
(c) "Who feeds Paris?"
(d) "Who smells Detroit?"
2. What, as defined by the International Labour Organization, occurs when people are without jobs and they have actively sought work within the past four weeks?
3. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
4. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Least wealthy.
(b) Most wealthy.
(c) Most productive.
(d) Least productive.
5. Human capital is extremely important in economics because it is also tied together with what?
Short Answer Questions
1. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the eighth?
2. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?
3. The GDP does not consider economic activity that is what, according to the author in Chapter 9?
4. What refers to the increasingly global relationships of culture, people and economic activity?
5. Burton G. Malkiel is an American economist, most famous for what classic finance book?
This section contains 282 words
(approx. 1 page at 300 words per page)