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. What is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level?
(a) Universal financial system.
(b) Integral financial system.
(c) Global financial system.
(d) Common financial system.

2. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?
(a) Asset allocation.
(b) Futures contract.
(c) Money market.
(d) Adverse selection.

3. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?
(a) Money market.
(b) Asset allocation.
(c) Communism.
(d) Capitalism.

4. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?
(a) $1,000.
(b) $6,000.
(c) $2,500.
(d) $8,700.

5. The GDP does not consider economic activity that is what, according to the author in Chapter 9?
(a) Subsidized.
(b) Interdependent.
(c) Deductible.
(d) Unpaid.

Short Answer Questions

1. 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?

2. Who led the Cuban Revolution?

3. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?

4. What contends that prices of publicly traded assets reflect all publicly available information?

5. Where did politicians try to deal with the level of pollution by limiting driving based on license plate numbers, according to the author in Chapter 2?

(see the answer key)

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