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. Mark Miringhoff believes the nation should have what, as described in Chapter 9?
(a) More laws on bankers.
(b) A "portfolio of morals."
(c) An army, navy, and airforce.
(d) A "social report card."

2. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?
(a) 29%.
(b) 62%.
(c) 14%.
(d) 44%.

3. What refers to a market where prices are determined by supply and demand?
(a) Influx market.
(b) Random market.
(c) Controlled market.
(d) Free market.

4. In 1900, the average wage was how much per hour according to the author in Chapter 9?
(a) 23.7 cents.
(b) 54.2 cents.
(c) 14.8 cents.
(d) 32.8 cents.

5. In 1900, a pair of stockings would cost how much money according to the author in Chapter 9?
(a) $0.50.
(b) $0.60.
(c) $0.25.
(d) $0.75.

Short Answer Questions

1. The Hope Scholarship program was shut down after how many years, according to the author?

2. In economics, what is a sustained, long-term downturn in economic activity in one or more economies?

3. What is generally a fungible, negotiable financial instrument representing financial value?

4. What rhetorical question do economists ask, according to the author in Chapter 1?

5. Economists call the cycle of recession and recovery what, according to the author in Chapter 9?

(see the answer key)

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