|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.
Multiple Choice Questions
1. North Korea is a single-party state under a united front led by what party?
(a) The Democratic Party.
(b) The Communist Party.
(c) The Korean Workers' Party.
(d) The Korean Entitlement Party.
2. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
(a) Futures contract.
(c) Exchange rate.
3. In 1900, a pair of stockings would cost how much money according to the author in Chapter 9?
4. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?
(a) Government shouldn't provide any service that could be covered by the private sector.
(b) Government shouldn't actually do the work of maintaining infrastructure.
(c) Governments should maintain the financial infrastructure more.
(d) Governments should provide more services.
5. Human capital is extremely important in economics because it is also tied together with what?
Short Answer Questions
1. In France, what president wanted to come up with a way to measure human happiness, as described in Chapter 9?
2. In economics, what refers to a general slowdown in economic activity?
3. When did the Korean War end?
4. 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 first?
5. Who gave out free medication in order to help the fight against leprosy, according to the author in Chapter 9?
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