Naked Economics: Undressing the Dismal Science Quiz | Two 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 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 third?
(a) Current account surplus/deficit.
(b) National savings.
(c) Unemployment.
(d) Income inequality.

2. OPEC has maintained its headquarters where since 1965?
(a) Vienna.
(b) Toronto.
(c) Havana.
(d) Sydney.

3. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Least productive.
(b) Least wealthy.
(c) Most productive.
(d) Most wealthy.

4. 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) Futures contract.
(b) Asset allocation.
(c) Money market.
(d) Adverse selection.

5. 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?
(a) Retirement.
(b) Overemployment.
(c) Unemployment.
(d) Underemployment.

Short Answer Questions

1. What represents the original capital paid into or invested in the business by its founders?

2. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?

3. In finance, what is a debt security in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest to use and/or to repay the principal at a later date?

4. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?

5. When did the Cuban Revolution end?

(see the answer key)

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