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 second?
(a) National savings.
(b) Income inequality.
(c) Poverty.
(d) Demographics.

2. In what political structure does the government set the price and decide what's on the shelves?
(a) Marxism.
(b) Utopianism.
(c) Capitalism.
(d) Communism.

3. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?
(a) Portfolio.
(b) Bond.
(c) Option.
(d) Trade-off.

4. Behavioral economics intertwine economics and what?
(a) Geometry.
(b) Religion.
(c) Geography.
(d) Psychology.

5. Ross Perot ran for President of the United States in what year?
(a) 1988.
(b) 2002.
(c) 2000.
(d) 1992.

Short Answer Questions

1. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?

2. 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?

3. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

4. According to the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?

5. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?

(see the answer key)

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