Naked Economics: Undressing the Dismal Science Quiz | Two Week Quiz A

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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 refers to a market where prices are determined by supply and demand?
(a) Controlled market.
(b) Influx market.
(c) Random market.
(d) Free market.

2. According to the principles of a market economy, if it's raining, it's time to sell what?
(a) Umbrellas.
(b) Loans.
(c) Houses.
(d) Boats.

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

4. When did the Great Depression begin in the United States?
(a) 1886.
(b) 1918.
(c) 1905.
(d) 1929.

5. What contends that prices of publicly traded assets reflect all publicly available information?
(a) The uniform pay scale.
(b) Adverse selection.
(c) The efficient market hypothesis.
(d) Supply and demand.

Short Answer Questions

1. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?

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

3. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?

4. 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?

5. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?

(see the answer key)

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