|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.
Multiple Choice Questions
1. Mark Miringhoff is a social science professor at what institution?
(a) Harvard University.
(b) The University of Chicago.
(c) The University of Alaska.
(d) Fordham University.
2. According to the principles of a market economy, if it's raining, it's time to sell what?
3. In what political structure does the government set the price and decide what's on the shelves?
4. According to the author, there are two lessons to be learned from a monopoly situation. What is the second?
(a) Government shouldn't actually do the work of maintaining infrastructure.
(b) Governments should maintain the financial infrastructure more.
(c) Government shouldn't provide any service that could be covered by the private sector.
(d) Governments should provide more services.
5. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?
(a) Mutual fund.
(b) Index fund.
(c) Foreign Exchange Market.
(d) Asset allocation.
Short Answer Questions
1. In 1900, the average wage was how much per hour according to the author in Chapter 9?
2. Who introduced the Hope credit?
3. Who gave out free medication in order to help the fight against leprosy, according to the author in Chapter 9?
4. Human capital is extremely important in economics because it is also tied together with what?
5. OPEC has maintained its headquarters where since 1965?
This section contains 254 words
(approx. 1 page at 300 words per page)